Belarus to export electricity to EAEU

Belarus hopes to supply electricity to the common electricity market of the Eurasian Economic Union (EAEU), Belarus’ Energy Minister Vladimir Potupchik declared. “We hope to export electricity to the common electricity market of the Eurasian Economic Union after the common gas market is established and equal rights for all the countries are created. Our electricity…

Lithuania: transport link between Klaipeda and Minsk discussed

During the meeting with Belarusian Minister of Transport and Communications Anatoly Sivak and Lithuanian Minister of Transport and Communications Rokas Masiulis discussed the successfully operating chain of Belarusian cargo transportation using the services provided by the Lithuanian Railways and Klaipeda State Seaport, as well as the outlook of bilateral cooperation in developing the necessary transport…

Belarus: electricity consumption to grow

Electric energy consumption in Belarus is projected to increase by 3 billion kilowatt-hours by 2020, Belarusian Deputy Energy Minister Vadim Zakrevsky announced. “Under the optimistic scenario, electricity consumption will reach some 40 billion kWh by 2020, growing by 3 billion kWh from 2017. This increase includes 2 billion kWh to be used by the real…

Belarus: Amkodor to help Russia’s Bashkortostan master modern forest harvesting technologies

The Belarusian mechanical engineering company Amkodor and the government of Russia’s Republic of Bashkortostan have signed an agreement on introducing and developing modern automated forest harvesting technologies in the republic, according to the Amkodor website. The document was signed during the first interregional forum on developing Bashkortostan’s northeast. Amkodor representatives took part in the forum.…

Belarus: Mogilevliftmash to start making travelators in 2018

The Mogilev-based lift manufacturer OAO Mogilevliftmash intends to start making travelators in 2018, the company’s Chief Engineer Igor Frolkin declared. A prototype travelator (a moving walkway) has been made in association with Chinese partners. The product has passed electromagnetic compatibility tests in line with the relevant technical regulations on safe machines and equipment. Acceptance and…

Belarus to launch engine assembling in Egypt

Belarus and Egypt have agreed to set up an engine assembly plant. The matter was discussed during a visit of a delegation of Minsk Motor Plant led by Director General Igor Yemelyanovich to Egypt, the Belarusian embassy in Egypt reported. The Belarusian delegation visited the Ministry of Military Production of Egypt, large industrial companies specializing…

Belarus: Belarusbank to hold IPO in 2019

Belarus’ largest bank Belarusbank may arrange an initial public offering (IPO) in 2019, First Deputy Prime Minister of Belarus Vasily Matyushevsky declared on November 29. According to the source, persistent work is in progress to arrange the IPO. “I hope we will be able to carry out the initial public offering in 2019,” said Vasily…

Belarus: new taxes shelved till 2020

Current taxes will not be raised and no new taxes will be introduced in Belarus till 2020. The provisions are stipulated by Ordinance No. 7 “On entrepreneurship development”, which the head of state signed on November 23. The ordinance prohibits raising tax rates and introducing new taxes, fees, and duties till 2020. Commercial entities, which…

Belarus: economy on path of recovery

The recent GDP growth figures point to Belarus’ gradual economic recovery, Director of Alpari Eurasia Alexander Sabodin said during the online conference on November 22. “The transition from the two-year recession to the GDP growth is a sign that the hardest times are behind us,” he said. The expert stated, however, that the country’s economic…

Belarus: EBRD revises 2017 growth forecast

The European Bank for Reconstruction and Development (EBRD) has revised upward the forecast for Belarus’ GDP growth to 1.5% in 2017, according to the Bank’s website. In 2018 the Belarusian economy will expand by 2%. The EBRD also revised Russia’s GDP forecast up to 1.8% in 2017. The bank also revised Russia’s GDP growth forecast…

Belarus: exports to Poland up in January-August 2017

Belarus’ exports to Poland went up by 19% in January-August, Belarus’ Deputy Minister of Foreign Affairs Evgeny Shestakov said at the 5th meeting of the Belarusian-Polish working group on trade and investment on October 25. The working group is part of the Belarus-Polish joint commission on economic cooperation. “According to the Belarusian statistics, the bilateral…

Belarus: Russia’s tomato re-export accusations dismissed as groundless

Accusations made by the Federal Service for Veterinary and Phytosanitary Surveillance of Russia (Rosselkhoznadzor), which believes Belarus re-exports tomatoes, are groundless, Belarusian Agriculture and Food Minister Leonid Zayats declared. The official reminded that the Russian agency already inspected gardens, farms, and storage facilities in Belarus at the beginning of the year. “Tensions were relieved and…