Belarus’ Council of Ministers approved of the national export promotion program for 2016-2020 and a roadmap for its implementation. It is envisaged in the Decree No. 604 dated August 1, the press service of the Belarusian government informed.
“The national program does not provide a detailed forecast for external trade in 2016-2020 but spells out specific 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 (engineering, technical, computer and education). 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; optimization of laws in the export promotion area taking into account the world’s best practices and the operation of the Belarusian economic model; improvement of approaches to the work with small and medium-sized enterprises in the exports matter; encouragement of goods and services producers to expand their product and service portfolio. The program also envisages the development of conditions to stimulate non-primary exports as well as high-technology and innovative exports of goods and services; further economic integration within the EEU which envisages the removal of barriers, restrictions and withdrawals in the trade of certain products and services, first of all in respect to energy resources, goods for assembly plants, liberalization of highway transportation operations and other matters.
The program also stipulates the development of cooperation with regional associations, international economic organizations, and export culture promotion. 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. In order to strengthen the export potential of the country more efforts will be put in for further development of areas important for Belarus’ economic integration with the world economy such as the development of the common restriction and withdrawal-free market in the EEU, liberalization of services and capital markets, development of the common financial market, harmonization of the national legislation of the EEU member states and the improvement of the EEU general legislation. 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. Measures will be taken to boost the export of services; advance the national capital to world markets, inclusion to international transnational corporations and development of new transnational corporations to secure a new level of labor productivity and environmental security. (BelTA/Business World Magazine)