1 Mar 2023 20:05

Belarus, China to increase use of national currencies in trade, investment, finance - statement

MINSK. March 1 (Interfax) - Belarus and China will use their national currencies more widely in trade, investments, and the finance sector, according to a joint statement following the meeting between Chinese President Xi Jinping and his Belarusian counterpart Alexander Lukashenko in Beijing on Wednesday.

The parties "agreed on the constant expansion of mutual investment and facilitation of cooperation between business communities and financial institutions. Among other things, this includes increasing the use of national currencies in bilateral cooperation in the sectors of trade, investments, and finance," the Belarusian state-run news agency BelTA quoted the statement as saying.

The parties "are making joint effort to deepen comprehensive cooperation as part of the One Belt One Road initiative, will continue facilitating the simplification of trade procedures between the two countries and will tap into the potential of transit traffic, including along the China-Europe railway route, and will consistently increase the amount of bilateral trade," the statement said.

"The expansion of mutual direct investments, the creation of joint high-technology innovative enterprises, the development of joint businesses between economic entities of the two countries, and the encouragement of business initiatives were designated as priority tracks of cooperation," it said.