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Belarus, Nizhny Novgorod Oblast aim at $1bn in trade

MINSK, 2 April (BelTA) – Belarus and Nizhny Novgorod Oblast will be able to reach $1 billion in mutual trade in the coming years. The statement was made at the meeting between Belarus President Alexander Lukashenko and Nizhny Novgorod Oblast Governor Valery Shantsev on 2 April.

According to the Belarusian head of state, over the last three years the mutual trade nearly doubled reaching almost $800 million in 2012. “Of course, we still have not reached $1 billion in trade, the plans we outlined in 2005. We have, however, almost approached this figure. Keeping this pace I think we will be able to reach the target in a year or two,” the President of Belarus said.

In turn, Valery Shantsev stressed that Belarus is a strategic partner for Nizhny Novgorod Oblast. It made the top three trading partners of this Russian region in 2012.

“In 2005 we set forth an ambitious goal. And we will stick to it. The crisis of 2008-2009 made its adjustments of course, but in 2012 our mutual trade exceeded the pre-crisis period by $150 million and the growth made up over 15%. I think if we continue in such a manner than by 2016 we will have $1 billion in trade. I am convinced we should keep moving and set forth a goal of reaching $2 billion as there is no such thing as enough investment, trade turnover and foreign economic ties,” Valery Shantsev said.

According to the Governor, the parties have been successfully coopering in industry, implementing joint projects. Nizhny Novgorod Oblast shows interest in Belarus’ agricultural practices, the Belarusian agricultural equipment. “It is effective, comfortable, and with a good price-to-quality ratio,” the Governor noted. Valery Shantsev also praised the Belarusian food products that are popular in Nizhny Novgorod Oblast.