French export promotion agency to open office in Minsk

– There are plans to set up an office of UBIFRANCE, the French export promotion agency, in Minsk by the end of 2013, BelTA has learned.

The matter was discussed at the meeting of Belarusian Economy Minister Nikolai Snopkov and Denis Tersen, Director of the Cabinet (the level of the first deputy minister) of the Foreign Trade Ministry of France. Nikolai Snopkov and Belarusian Finance Minister Andrei Kharkovets are in Paris on a working visit on 5-8 June.

At the meeting the sides expressed mutual interest in stepping up the bilateral trade and economic cooperation, which level is, the sides agree, below the potentials of Belarus and France.

The French side informed about the interest to open a representative office of UBIFRANCE in Minsk in autumn 2013. Prospects of creating bilateral documents for assistance to trade, economic, and investment cooperation were also discussed.

Upon the request of the French side the Belarusian Economy Minister informed about the progress in creating the Eurasian Economic Union by Belarus, Russia, and Kazakhstan.

The Belarusian Finance Minister, the Belarusian Economy Minister, and Ambassador of Belarus to France Pavel Latushko also held negotiations with Deputy Secretary General of the Organization for Economic Cooperation and Development (OECD) Rintaro Tamaki. During the talks the Belarusian side presented information about the social and economic situation in the country, efforts taken by the Belarus government to enable conditions for long-term economic growth, and measures taken by the Belarus government to implement an anti-inflation program. The Belarusian side also presented an analytical review of the main indicators of the country over the last three years and their current state, which confirms the possibility for Belarus to get a higher credit rating.

At the meeting the sides reached understanding regarding joint avenues of Belarus-OECD cooperation, agreed to exchange notes at the session of the OECD’s Eurasian Ministerial Conference in Warsaw on 27-28 June with the presentation of approaches to furthering Belarus-OECD cooperation for the sake of raising the national competitive ability, the development of the scientific and technological advance and entrepreneurship in Belarus.

Apart from that, negotiations between the Belarusian Finance Minister, the Belarusian Economy Minister and President of the French industrial group Bouygues Martin Bouygues and representatives of the French banks Societe Generale and Credit Agricole took place in the industrial group’s headquarters to discuss the implementation of the Belarusian-French project to build a hospital in Minsk.

Later on the Ambassador of Belarus to France, the ministers of economy and finance met with President of the France-Belarus friendship group Gerald Darmanin and members of the French parliament Thierry Mariani and Pierre Lellouche. At the meeting the interest in furthering the development of Belarus-France trade and economic cooperation via creating relevant instruments of interaction between the business circles of the two countries was confirmed. The sides reached an agreement to support initiatives of the business circles of Belarus and France in setting up a public organization for the business cooperation between the two countries.

A presentation of Belarus’ economy and investment opportunities took place in Paris on 6 June. The event was organized by the Belarusian Economy Ministry, the Belarusian Foreign Ministry, the Embassy of Belarus in France, the National Agency of Investment and Privatization of Belarus, and the business association Movement of the Enterprises of France (MEDEF).

The Belarusian Finance Minister took part in the event as well as the Belarusian Economy Minister, the Ambassador of Belarus to France, Ambassador of France to Belarus Michel Raineri, representatives of the French parliament, the ministries of foreign affairs, economy and finance of the two countries, representatives of public organizations and business circles of Belarus and France.

During the presentation the Belarusian Finance Minister and the Belarusian Economy Minister presented information about the social and economic development of Belarus, investment terms before representatives of French business circles.

Representatives of 31 French companies with last year’s total turnover of about €429 billion attended the presentation of Belarus’ economy and investment opportunities.

After the presentation bilateral negotiations of the Finance Minister and the Economy Minister with representatives of 12 French companies were held to discuss the development of investment, trade, and economic cooperation.

Prior to the presentation top executives of the Belarusian automobile engineering company BelAZ held negotiations with three leading French companies in Paris. Representatives of the French companies expressed their potential interest in buying Belarusian machines for the French market and for selling BelAZ mine dump trucks in third countries.

Top executives of OAO Gorodeya Sugar Refinery and OAO Slutsk Sugar Plant held negotiations with French companies to discuss the modernization of the manufacturing capacity of Belarusian sugar industry enterprises using modern French equipment and technologies. The retooling of Belarusian sugar refineries will create additional capacity to increase the sugar export potential of Belarus.

During the presentation meetings between representatives of OAO Belarusbank and the French bank Societe Generale were held to discuss the provision of credit resources for several economic and investment projects in Belarus.

After the presentation in MEDEF an agreement on arranging a visit of representatives of French business circles to Belarus was made.

In January-April 2013 Belarus-France trade exceeded $187.8 million, up from about $147.5 million in January-April 2012. Belarus-France trade rose by 27.3%, with Belarus’ export 53.4% up and Belarus’ import 23.9% up.