Belarus: gas output up in January-August 2016

Belarus increased gas output by 0.1% YoY in January-August to 145.3 million cubic meters, the National Statistical Committee said in a report. In August alone, Belarus’ gas output grew by 14.8% YoY to 18.1 million cubic meters. Belarus does not have its own gas fields. Within the limits of the Prypyats Flexure, where oil exploration…

Belarus and Germany explore opportunities for investment cooperation

Belarus and Germany explored opportunities for investment cooperation during the Day of Belarusian Economy at the Hamburg Chamber of Commerce on September 27, the press service of the Belarusian Ministry of Foreign Affairs reported. “The emphasis was placed on the opportunities for interaction and investment cooperation between Belarus and Germany in the context of Belarus’…

Belarus: Mogilevliftmash investments in production development up in January-August 2016

OAO Mogilevliftmash elevator plant says it has invested Br6.3 million ($3.234 million) in production development in January-August, up by 7.9% YoY. The money spent on equipment purchases account for 83% of the total investment – Br5 million ($2.567 million): Mogilevliftmash purchased 8 units of equipment, including a paintshop for supersized parts (by Spain’s LAGOS S.A.),…

Belarus: BelAZ launches $17.8 million facility

On September 23, BelAZ heavy-duty truck manufacturer launched its newly-built trimming and acceptance shop supplied by Italy’s IMEL S.p.a., a BelAZ representative reported. The total value of the project stands at $17.8 million. The 3,800-square-metre facility is intended for painting parts and aggregates of dump trucks with 30-450 ton cargo capacity. The Belarusian Automobile Plant…

Belarus: Belaruskali potash fertilizer output down in January-August 2016

The state-owned OAO Belaruskali produced 3.799 million tons of potash fertilizers (in terms of 100% potassium chloride) in January-August, down by 17.3% YoY, Belarus’ National Statistical Committee (Belstat) said in an official report. In August alone Belaruskali’s potash fertilizer output increased by 3.7% YoY, to 622,800 tons. Belaruskali’s potash fertilizer inventories stood at 87,800 tons…

Belarus: IFRS introduction to improve investment climate

The introduction of the international financial reporting standards (IFRS) in Belarus will help improve the investment climate. Belarusian Finance Minister Vladimir Amarin made the statement in an interview published in the September edition of the Ministry’s magazine Finance. Accounting. Auditing. According to the source, for the sake of effective implementation of the decision in favor…

Belarus to launch BelGee car factory in H1 2017

The Belarus-China car assembly company BelGee JV (based in Borisov, Minsk region) plans to launch its own car factory in the first half of 2017, Belarusian First Deputy Industry Minister Gennady Svidersky reported. The construction of a factory by the Belarusian-Chinese car assembly company BelGee is in the final stage, the new premises are ready,…

Belarus: oil export proceeds down in January-July 2016

Belarus’ proceeds from exports of domestic crude oil reduced by 32.3% YoY in January-July to $253.704 million, Belarus’ National Statistical Committee (Belstat) said in an official report. In January-July Belarus exported 945,900 tons of crude oil, up by 0.7% YoY. Belarus’ sole authority on oil exports is a state-controlled monopoly officially designated as Belorusneft. Germany…

Belarus: Kommunarka pays increasing attention to Chinese market

The Belarusian confectionery factory Kommunarka pays increasing attention to the Chinese market, Kommunarka Director General Ivan Danchenko said. Ivan Danchenko said that Belarusian confectionery products were underrepresented in China. This country accounts for a small share of Kommunarka’s exports. However, in recent years, the company has been paying increasing attention to this market. To attract…

Belarus: call for new spheres and forms of cooperation to step up trade with Latvia

The development of direct contacts between businessmen, manufacturers and government agencies of the two countries will allow advancing Belarus-Latvia economic cooperation to a new level. Ambassador Extraordinary and Plenipotentiary of Latvia to Belarus Martins Virsis made the statement as he met with top officials of the Gomel branch of the Belarusian Chamber of Commerce and…