Fri, 20/02/2015 - 14:06
MINSK, 20 February (BelTA) – Plans have been made in Belarus to expand export lending mechanisms. The information was released by Belarusian Economy Minister Vladimir Zinovsky during the expanded participation session of the State Construction, Local Self-Government, and Regulations Commission of the House of Representatives of the National Assembly of Belarus on 20 February. The session was held to highlight the Belarus government's action program for 2015, BelTA has learned.
According to the Economy Minister, in 2015 about Br5 trillion will be allocated to support export as part of Belarus president decree No. 534. “We have taken into account proposals of key exporters such as MAZ and MTZ and have polished the mechanism to improve this decree together with them. The changes implemented into the document have radically cut down on red tape in export lending procedures,” said the Belarusian Economy Minister.
Vladimir Zinovsky noted that actions are being taken to polish the scheme in cooperation with foreign banks. The creation of a pool by Eximgarant of Belarus and export insurance agencies of the Eurasian Economic Union member states for the sake of mutually supporting export to third countries will contribute to the expansion of export options. According to the Minister, they are already working with colleagues on that.
According to the source, it is possible to greatly increase foreign currency flow into Belarus by addressing the problem of external accounts receivable and improving the performance of distribution networks. These areas of work are taken into account by the document, said the official.
According to Vladimir Zinovsky, export of Belarusian products to China is an important area of the export diversification effort. They are now in negotiations with the Chinese side working on the raw delivery of a batch of Belarusian products. A package of proposals is being formed.
“We have to bear in mind that the situation on our key export market — Russia — will be very complicated in 2015. During consultations between the Economy Ministry and Russian colleagues it was said that import to Russia in 2015 may be reduced by 30%. For us it means that economic growth this year cannot be secured without diversification,” stressed the Economy Minister. Therefore, it is important to focus all the export promotion schemes on new markets. It is necessary to offer export leasing schemes and other ones. For the sake of export diversification it is necessary to fully utilize the advantages offered by participation in regional and global integration processes. “We are in for systemic work to improve conditions of access of Belarusian products and services not only on the common market of the Eurasian Economic Union but on the markets of all the regional groups that exist in the world,” noted Vladimir Zinovsky.
The Minister also said that they had approved of the proposal of the head of the lower chamber of the Belarus parliament in favor of working together with the parliament for the sake of promoting the country's foreign economic interests and penetrating new target markets.
source: http://eng.belta.by/all_news/economics/Belarus-to-offer-more-export-loan-options_i_79780.html
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