Belarus-Ukraine trade may reach $8bn, Semashko says
2012-04-05 18:05:47
Belarus and Ukraine are well-positioned to raise the bilateral trade to around $8 billion per year, First Vice Premier of Belarus Vladimir Semashko told BelTA after the talks in Kiev with his Ukrainian counterpart - First Vice Premier Valery Khoroshkovsky and Minister of Economic Development and Trade Piotr Poroshenko, and also Secretary of the Council of National Security and Defense Andrei Klyuev, who until recently was responsible for the Belarusian-Ukrainian trade and economic cooperation.
As Vladimir Semashko noted, one of the key areas that can be explored to increase trade is the delivery of Belarusian oil products to Ukraine. These products are competitive in the Ukrainian market as they are of high quality that meets the world standards. According to Vladimir Semashko, there are no alternatives to Belarusian gasoline, diesel and other oil products. The price factor is also important, he added. Belarusian agricultural machinery, buses account for a large share of exports.
Belarus and Ukraine have a big potential for further efficient industrial cooperation. It envisages more joint projects, supplies of Belarusian tractors, combine harvesters and other equipment to Ukraine. Supplies of Belarusian equipment to Ukraine on leasing terms and vice versa remain high on the agenda.
In 2011 the trade between Belarus and Ukraine reached its record high of $6.2 billion. Belarus’ trade surplus made up $2.2 billion. According to Vladimir Semashko, this year has set off to a good start as well. If the export of Belarusian products grew 64% last year, the increase in the first two months of 2012 made up 1.7 times. Belarus is Ukraine’s fourth major trading partner behind Russia, the USA, and Germany. Ukraine is Belarus’ third leading trade partner after Russia and Germany.
Vladimir Semashko discussed with his Ukrainian colleagues an array of important issues related to mutually beneficial trade and economic cooperation. The sides reached an agreement to hold the next meeting of the Belarusian-Ukrainian intergovernmental commission in Minsk in May.