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Opinion: Belarus-Kazakhstan trade can exceed $1bn in 2020

2 March 2020 22:01

MINSK. KAZINFORM Belarus-Kazakhstan trade can exceed $1 billion in 2020, Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI) Vladimir Ulakhovich told the media, BelTA has learned.

«In 2015 Belarus-Kazakhstan trade amounted to less than $600 million. Last year, according to Belarusian statistics, it almost reached $1 billion. If we look at the projects that are included in the road map, this is a modest figure. We have a very large potential, so this year we should not just reach the trade worth $1 billion, but significantly overcome this figure, despite all the difficulties in the global market,» Vladimir Ulakhovich believes.

According to Vladimir Ulakhovich, there are a number of untapped niches, including food production, logistics, petrochemistry, woodworking, cooperation in the development of innovative technologies, and other areas.

The chairman noted that Kazakhstan is home to 246 Belarusian companies and companies with Belarusian capital, about 40 entities of distribution network and 7 assembly facilities. «We are growing in this regard, and this is a very important trend. Because joint ventures are joint activities, not just trade. Industrial cooperation can provide a different level of cooperation and other indicators of trade,» Vladimir Ulakhovich stressed.

Keywords: Kazakhstan and Belarus,