Belarus and China will invest $16 billion in joint projects

Belarus and China are ready to implement joint projects totaling $ 16 billion, announced March 15th the Prime Minister of Belarus Mikhail Myasnikovich during a meeting with Ambassador of China Gong Jianwei (宫建伟).

“The total investment for projects are at various stage of implementation, estimated at $ 16 billion, said the Prime Minister. “For our country, it is quite a high figure.” According to Myasnikovich, despite the high potential of the Belarusian-Chinese projects, the pace of project implementation may accelerate. “There are some annoying problems related to the procedure, which takes a lot of time and effort, and can be solved with mutual work of the concerned parties,” he said.

Myasnikovich also said that the government of Belarus is interested in further cooperation with China. “We worked quite well with your predecessors. I think your experience will bring something new in our relations”, he said, referring to the Chinese ambassador.

China’s Ambassador Gong Jianwei assured that the continuity of relationships will be maintained at the highest level. “My primary goal is to fully implement the agreements that have been achieved at the level of our government and our presidents,” he said.

Speaking to reporters, Ambassador of China reported that the construction of the Belarusian-Chinese industrial park is planned to start in 2012, Belarus and China are finalizing the construction. “The project is now at the stage of final document preparation. I think we will start construction this year. The project will benefit our people,” said the Ambassador.

The activities of the Belarusian-Chinese industrial park will focus on the development of mechanical engineering, fine chemical, biomedical, manufacturing of household appliances and electronics. The main markets for manufactured goods in the park will be CIS countries and Europe. The park will cover more than 80 square kilometers, it includes the necessary infrastructure for Chinese and European manufacturers, as well as to accommodate the employees of the park.

According to background information from the Belarus Council of Ministers, at the end of 2011 Belarus has attracted $ 9.4 million foreign direct investment from China. Target growth of exports from Belarus to China in 2011 (excluding the supply of potassium and oil products) amounted to 127, 3%. During 2011 the volume of trade of Belarus and China (including Hong Kong, Macao and Taiwan) increased by 31% to $ 3.011 billion as compared to 2010, Belarusian exports to China reached $ 697 million (up 136% compared to 2010). Belarus’ major exports were potash fertilizers and caprolactam.

In addition, at the meeting the ambassador discussed with Myasnikovich the problems of Chinese passenger car brand “Geely”. The Ambassador said that the Chinese delegation has recently visited Minsk and held talks with the government on issues of project implementation. Negotiations are being finalized, said a spokesman for China, saying: “I think in a few months we will make the first step towards the practical realization of the project.”

As reported earlier on January 16, Vice-Premier of Belarus Anatoly Tozik said that Belarus is involved in the implementation of 20 major projects with the support of China. In particular, with the participation of Chinese companies in the capital of Belarus will build a Chinatown and the hotel “Beijing”.

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