Belarus intends to export more potassium chloride to China, boost trade, investment - deputy PM
MINSK. Feb 28 (Interfax) - Belarus is expecting to sign a number of strategic economic documents with China and to increase its exports of potassium chloride and bilateral trade in general, Belarusian Deputy Prime Minister Nikolai Snopkov said on a visit to Beijing by Belarusian President Alexander Lukashenko.
"Our companies are currently in talks with major Chinese importers [of potassium chloride] over volume and price. I cannot give specific figures yet, but I can reassure you that that is a considerable volume growth. And we are very glad of it," Snopkov was quoted by the BelTA state news agency as saying on Tuesday.
China is traditionally among Belarus' three biggest trading partners, he said. In 2022, trade grew by 13% to $5.79 billion, including $1.61 billion in Belarusian exports and $4.18 billion in imports, he said.
"I am pleased to say that this year's January and [first] 14 days are already giving us a growth of 72% on last year, in terms of exports. Basically, our joint trade already reached roughly a billion over the month and a half," Snopkov said.
In 2023, Belarusian exports to China are expected to increase by 37.5% to $2.2 billion, he said. "Belarus and China are now using a new trade cooperation mechanism, which has proved itself well, judging by last year's experience. It consists in export and import applications. For 2023, the export application is $2.2 billion. That is an additional $600 million on top of 2022," Snopkov said.
"We are making a big bet on a number of document of economic nature, primarily, our agreement on trade in services and investment. We worked for three years. We have reached the finish line. Effectively, it is an area of free trade in services and investments. It means that there will be no barriers. In international experience, that is roughly an additional 12.5% in trade in services and additional 30% in investments," Snopkov said.
Furthermore, Minsk expects to sign a comprehensive strategy on joint industrial development. "It means that China is prepared to share with us industrial production technologies. This is a crucial element of the future technological development, given that today China is a technologically advanced country," Snopkov said.
"A whole host of agreements on car making. This industry is most promising. We know that, by and large, Western European countries, in the main, make their combined profits precisely in car-manufacturing," Snopkov saiod.
On plans to broaden cooperation in the production of medications and information and communications technologies, he said it was "necessary to find a strategic partner along the template of the medical direction. Fundamental decisions are expected on payment infrastructure."