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Lukashenko hails Belarus-Kazakhstan cooperation potential

MINSK (BelTA) – There are great prospects for the further development of bilateral cooperation with Kazakhstan, Belarus President Aleksandr Lukashenko said as he met with outgoing Ambassador of Kazakhstan to Belarus Yermukhamet Yertysbayev on 28 August, BelTA informs.

“Our prospects and opportunities are even bigger than the results we have achieved. As ambassador, you realize that with such an advanced level of integrations we can hope for more than $1 billion worth of bilateral trade. We should have several billions. And we can do it,” the president said.

Belarus and Kazakhstan maintain productive cooperation in international organizations, provide mutual assistance on key matters. The legal framework includes more than 60 agreements. The interstate agreement on social and economic cooperation till 2026 is a fundamental document. There is also a roadmap for the development of bilateral cooperation between the governments of the two countries for 2019-2020.

In 2018, the bilateral trade reached $896 million (up 30% from the level of 2017). Belarus' export was $783.7 million (up 32.3%), import reached $112.3 million (up 15.6%). The trade in services made up $153.2 million in 2018. Kazakhstan's investments to the Belarusian economy exceeded $18.8 million (up 4.8 times from the level of 2017). In January-June 2019, the bilateral trade made up $481.7 million (up 11.8% from the same period of 2018).

Major Belarusian exports are tractors and tractor units, milk and dairy products, butter, harvesters, potash fertilizers, furniture, beef, freight vehicles, cheese and quark. Kazakhstan imports oil products, coal, oil gases, cotton fibers, flax seeds, raw aluminum to Belarus.

The Belarusian commodity distribution network in Kazakhstan includes over 40 companies with the Belarusian capital and over 170 subjects of the dealer network. There are eight joint assembly plants for Belarusian machines and equipment.

There are 49 enterprises with the Kazakhstani capital in Belarus, including 13 joint and 36 foreign ventures. There are 256 organizations with the Belarusian participation in Kazakhstan.