Belarus’ Council of Ministers approved of the national export promotion program for 2016-2020 and a roadmap for its implementation. The plan is outlined in Decree No. 604 of August 1, the press service of the Belarusian government reported.
“The national program does not provide a detailed forecast for external trade in 2016-2020 but spells out certain measures to promote exports with an ultimate target to diversify and increase the export turnover”, the press service explained.
The program is aimed at the growth, development and diversification of the national export, first of all, innovative and high-technology exports, enhancement of the efficiency of the government support for export promotion. The implementation of the roadmap events will increase the volume of high-value exports, modern materials and complete products with improved features, further develop the export of technically and technologically-intensive products, and also increase the export of high-tech and intellectual services.
The achievement of the main targets of the program as well as the creation of favorable conditions for the implementation of the second stage (2021-2030) of Belarus’ sustainable social and economic development strategy through 2030 will help secure systemic export diversification for an equal distribution of exports between third markets: EEU, EU and other states, including the countries of Asia and Oceania, Africa and Middle East, Latin America (by 2020 it should represent a one third-one third-one third correlation).
The exports of goods to new promising markets are expected to account for 10% of the total exports by 2020. Among the main goals of the program is the diversification of trade and economic ties with various countries and regions alongside with preserving and strengthening positions on traditional markets.
Under the program, in 2016-2020 the export of goods and services is expected to increase 1.21-1.25 times, while the growth of exports shall outpace the growth of imports by at least 65% of produced industrial products. The export of goods to new promising markets is to go up from 5.8% of the total exports in 2015 to 10% in 2020. The export of services will account for 25% of the total exports in goods and services in 2020.
Besides, the program envisages further work on Belarus’ accession to the World Trade Organization with the observance of the national economic interests and expansion of cooperation within other international organizations; expansion of multilateral cooperation with the countries of the EU and the USA; further intensification of trade and economic ties with promising countries, and also with the states of Southeast Asia, Middle East, Africa and Latin America. (Prime-TASS/Business World Magazine)
