Belarus plans to redirect $5bn+ of exports from Europe to Russia and China

Belarus’ Deputy Economy Minister, Dmitry Yaroshevich, commented on the dynamics of foreign trade in goods in January-February 2022, informing that active work is underway to redirect export supplies to the markets of friendly states – as reported by the Economy Ministry’s press service

As informed, in the first two months of 2022, exports rose by 21.5 percent – being ahead of imports. Moreover, its monetary volume reached a 9-year high in February: $3bn.

"In the current conditions, an active work has been launched by government agencies, industries and businesses to redirect export supplies to the markets of friendly states – in order to maintain positive trends," Mr. Yaroshevich said. “Of course, Russia and China are the most promising destinations for us: more than $5bn of European exports may be redirected to these countries in the short term, including all food, machine-building and light industry products.”

The Deputy Economy Minister stressed that the task of export reorientation is facilitated by the fact that Belarusian goods are already presented at the most topical markets now – enjoying a great demand there. “We will need to work over the increase in volumes, rather than mastering new niches from scratch," he said.

"Development of co-operative ties between our enterprises – including by setting up joint facilities for most popular products – is another reserve. The corresponding interaction between the relevant ministries and chambers of commerce and industry is gaining momentum these days,” Mr. Yaroshevich added.