Belarus constantly improves foreign trade terms

MINSK, 14 January (BelTA) – The Foreign Ministry of Belarus is working hard in cooperation with the government agencies and organizations to improve foreign trade terms, Spokesman for the Foreign Ministry of Belarus Andrei Savinykh told BelTA.

The Belarusian official emphasized that in 2012 the exports support system was considerably expanded and conditions were created for the introduction of new mechanisms.

In his words, the tax load on exporters was considerably eased last year. In particular, VAT zero rate was introduced, excisable goods were exempted from excise duties.

Andrei Savinykh emphasized that domestic enterprises now make greater use of insurance protection against political and/or commercial risks with deferred payment; in supplying the products on leasing terms; in creating assembly and joint ventures abroad; when using the international factoring.

The mechanism of export crediting was also significantly expanded last year. Small and medium-sized enterprises got access to state guarantees for export transactions.

As a result, in 2012, the first time since the launch of the export credit mechanism in the country, the sum that was set aside in the budget for the compensation for the losses of the banks (Br76 billion) was used in full before the end of the calendar year.

In 2013 the sum for compensation of the losses of the banks from providing export credits has been increased 4.7 as against 2012.

Talking about the effort to improve the terms of trade, Andrei Savinykh emphasized that costs and time expenditures spent by business entities on export-import operations were reduced; the use of electronic documents in foreign trade activities was increased, the registration procedures of statistical declarations were optimized; requirements for the documentation for the goods crossing the state border of Belarus were eased.