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Belarus PM offers Estonia investment cooperation

MINSK, 21 May (BelTA) – Belarusian Premier Mikhail Myasnikovich suggested that Belarusian and Estonian businessmen develop investment cooperation and set up joint companies, BelTA has learnt.

“We need joint ventures and corporate enterprises, tend to work less on raw markets, mediator services and more in the production and services areas,” the PM said.

The Government of Belarus is ready to create all necessary conditions for Estonian business on the Belarusian market. “Maybe we will have to make certain decisions in the government, ministries, the chamber of commerce and industry, and we are ready to do it if needed,” Mikhail Myasnikovich said.

Belarus has good trade and economic relations with Lithuania and Latvia. The country hopes to expand partnership with Estonia as well. The Premier believes such cooperation should be multilevel. “We should look into joint investment and think about innovation cooperation, projects with lower material intensity,” Mikhail Myasnikovich said.

In 2011 the mutual trade totaled $650 million. Export made up $578 million while import was $71 million. Belarus posted trade surplus of $506.2 million. In January-March 2012 the trade reached $140 million. Export totaled $126.6 million.

Last year Estonian investment to the Belarusian economy reached $63.7 million, including $29.3 million of FDI. In Belarus there are over 100 Estonian-funded companies and more than 10 representative offices of Estonian companies. Belarus and Estonia have been implementing projects in engineering, wood utilization, construction materials and energy.