Belarus redirects 60% of its woodworking products to Russia - Bellesbumprom

MINSK April 4 (Interfax) - Due to Western sanctions, Belarus has reoriented more than 60% of its woodworking products to the Russian market, the new chairman of the Bellesbumprom concern, Alexander Pshenny said.

On Thursday, President of Belarus Alexander Lukashenko appointed Pshenny as head of the concern on Thursday. He had previously served as deputy chairman of Bellesbumprom.

"Sanctions restrictions have significantly affected all enterprises in the woodworking industry. Today, the situation at our enterprises is improving, and they are adapting. We are finding new markets. (...) Today we already supply more than 60% of all woodworking industry products to Russia," Pshenny said.

Meanwhile, "the only problem or limiting factor that significantly affects the speed and success of the implementation of all our projects is that the Russian Federation has exactly the same sanctions restrictions, and Russia itself is the largest producer of the products that we produce," he said.

"Therefore, when the export of our products, which we supplied to European countries and to Ukraine, was completely restricted, we had to reorient ourselves mainly to Russia and through it, to the friendly countries of Central Asia, and China," he said.

Pshenny also said that there were problems with the debt load of enterprises. "The money [in banks] was collected back in 2010-2015, when major modernization was taking place. The amounts are significant, and they are dragging enterprises down," he said. There is a proposal to restructure the debts of individual enterprises, consider the possibility of reducing loan rates, and convert foreign currency debts to a ruble-base.

During Pshenny's appointment, Lukashenko mentioned the need to intensify exports.