Eliminating misbalance

Over next five years, share of high-tech goods in export supplies to rise 6-fold

By Anna Smuglova

“By 2015, we plan to reach $12-13bn of exports from high-tech goods,” notes Belarus’ Economy Minister, Nikolai Snopkov. “We believe that this major direction will eliminate our negative foreign trade balance.”

The official stresses that each investment project is being considered from the point of view of efficiency and that reducing imports is a major task for the real sector of the economy, enhancing the competitiveness of our produce.

In 2010, each US Dollar spent by the country on importing equipment to achieve technical modernisation resulted in Belarus’ receiving $1.90 in revenue from the sale of its ‘value added’ goods. “This is a good trend which we should build upon in 2011,” adds Mr. Snopkov. The necessary prerequisites are being created, with the Government currently stimulating export growth.

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