Belarus, Pakistan mull over joint ventures
MINSK, 7 August (BelTA) – Belarus and Pakistan are in talks to set up joint ventures in mechanical engineering, petrochemistry and woodworking, Industry Minister of Belarus Vitally Vovk said at a meeting of the Belarusian-Pakistani intergovernmental commission on trade and economic cooperation on 7 August, BelTA informs.
It is expected that joint companies will be opened both in Belarus and Pakistan. “We are interested not only in the supply of goods but also in setting up new companies, creating jobs and exchanging technologies,” stressed Vitaly Vovk.
“We have built the right foundation for our further partnership in order to increase the trade between the two countries multifold in the next few years. I am confident that the visit of the Prime Minister of Pakistan which is due to take place next week will make the next step in strengthening our cooperation,” he added.
In turn, Pakistani Minister of Commerce Khurram Dastgir Khan who chairs the Pakistani part of the intergovernmental commission believes that the two countries will soon enter a new level of cooperation. “Since the visit of the President of Belarus to Pakistan we have done a lot to intensify cooperation. Cooperation with Belarus in the production of agricultural equipment is of utmost importance for Pakistan. Apart from that, we would like to develop cooperation in the textile industry, the production of pharmaceutical products, sportswear and food products,” Khurram Dastgir Khan said adding that the intergovernmental commission is busy with creating favorable conditions for cooperation between Belarusian and Pakistani companies in these sectors.
According to the Pakistani Minister of Commerce, the intensification of the trade and economic cooperation will promote the development of the two countries. “I hope that our cooperation will open doors to the European region for Pakistan the same as open doors for Belarus to South Asia and the Middle East,” Khurram Dastgir Khan said.
In the last eight years the Belarus-Pakistan trade has been between $50 and $120 million a year. Belarus’ main exports to Pakistan include tractors, potash fertilizers, synthetic fiber, tires. Belarus mainly imports Pakistani rice, styrole polymers, fruit, food products, leather goods, fabric and textile.
In 2014 the bilateral trade totaled $58.2 million. Belarus’ exports to Pakistan made up $42.6 million (100.3% to 2013), the import was $15.5 million (98.5%). Last year Belarus’ exports of potash fertilizers to Pakistan increased two times, that of truck and tractor parts by 30%.
In January-May 2015 the Belarusian export to Pakistan totaled $15.3 million (117.8% to the same period last year).