The memorandum provides for the creation of the Belarusian-Chinese initiative to service the capital market: sharing exchange trade information, implementing joint research projects and other activities aimed at the development and support of organized securities markets in each country

Belarusian diplomats and representatives of Shanghai Sinochain have discussed the prospects of shipping food products by Belarusian enterprises (beef, poultry, dairy products), as well as timber and chemical products to the Chinese market

Belarus will have to pay in total approximately $3.2 billion in 2019 to take care of the country’s the external public debt, including $1.1bn in debt service payments and another $2.1bn in principal debt payments

“The R&D centre is expected to become a research base for attracting local talent in the field of artificial intelligence and for cooperation with local research institutions,” the ZhuiYi official told PrimePress

“There are projects related to the potash industry, mechanical engineering, as well as petrochemical projects. In addition, there are certain resources of up to $100 million, which were allocated for the development of small and medium-sized enterprises," Yegorov said

The plant will be construction on a land plot of 3.3 ha. This is a co-financed project, with 70% of the funds provided by China and the remaining 30% by Belarus. The launch is scheduled for 2021

The official said: “Nearly $500 million from all kinds of sources has already been invested in the project. I am talking about shareholders, investors, budgets of the governments, loans, and technical aid. The park is home to 44 resident companies. Another 11 residents will be added today. They represent billions of U.S. dollars in declared investments and 354ha of the explored starting area.”

Belarus' growing export to China is a result of mutual interests. “China is busy implementing reforms, increasing domestic consumption and import and signing free trade agreements, minimizing customs duties for other countries with these goals in mind. We are now in a situation when this market is advantageous for us,” Kirill Rudy said

“Work is underway to raise a loan of the China Development Bank. A memorandum of raising a 3.5 billion yuan loan has already been signed. Now we are working on the borrowing terms,” Maksim Yermolovich said

Welcoming remarks were delivered by Ambassador Extraordinary and Plenipotentiary of Belarus to China Kirill Rudy and Vice Chairperson of the Inner Mongolia autonomous region Ai Lihua. They stressed the importance of the further development of economic contacts and joint projects

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