Belarus’ exporters can no longer use devaluation benefits to boost trade

MINSK, 13 March (BelTA) – The devaluation effect has been exhausted in Belarus; exporters need to use other mechanisms to boost trade, Deputy Foreign Minister of Belarus Alexander Gurianov told reporters on 13 March, BelTA has learnt.

“The effect generated by the devaluation of the national currency has almost been exhausted; the currency market has stabilized, therefore exporting companies should rely on other instruments to boost trade,” Alexander Gurianov said.

To increase trade, Belarus needs to build up traditional exports and supply new products to the foreign market.

The overall situation in the global economy is a matter of concern. It can have a negative impact on the foreign trade of Belarus. “We are concerned about our positions on the European market,” he said. It is difficult to say how Belarus’ trade relations with European countries will develop. “Everything will depend on how grave the economic downturn in the European Union will be,” he said.

Belarus is closely monitoring the economic situation in other parts of the world. Alexander Gurianov noted that countries, like Russia, Kazakhstan, Ukraine, Venezuela, China, India and new countries, like Indonesia and Nigeria “are expected to demonstrate some economic growth, which instills hope that we will be able to boost our exports”.