/ / News
09.07.2013

Belarus-Bangladesh business projects worth over $100m in the pipeline

MINSK, 9 July (BelTA) – Companies from Belarus and Bangladesh are working on about ten projects worth a total of over $100 million. The information was released by Prime Minister of Belarus Mikhail Myasnikovich at the Belarusian-Bangladeshi business forum on 9 July, BelTA has learned.

“The business of our countries is now working on about ten projects worth over $100 million, including those for mechanical engineering industry and food industry,” said the Prime Minister.

“We practice a complex approach towards setting up joint ventures. We are ready to hand over technologies, provide certain investments and train personnel,” stressed Mikhail Myasnikovich. He is convinced that the establishment of joint ventures in the area of mechanical engineering is full of promise. “Our designers have already come up with a series of machines adapted to working in Bangladesh. The range includes tractors and other kinds of agricultural equipment,” said the head of government. In his words, the projects may be launched as early as this year.

Mikhail Myasnikovich remarked that the Belarusian side was going to offer a new form of cooperation to Bangladesh – a foreign currency loan available on profitable terms for the sake of buying and starting the joint production of road machines. “The proposal has been formulated, business circles should discuss the idea from a wider angle. If interesting projects emerge, we are ready to raise lending to match needs of the sides,” said the Prime Minister. Speaking about problems that affect Belarus-Bangladesh interaction, Mikhail Myasnikovich remarked that doing business together is hard now due to high customs duties.

According to the Belarusian Chamber of Commerce and Industry, in January-April 2013 Belarus-Bangladesh trade totaled $43.4 million, with Belarus’ export at $37.5 million. Belarus’ primary export was potash fertilizers (99.7% of the total export volume). Belarus also exported tires, tractors, powder and granules made of meat, meat byproducts, and fish. The main imports were jute fiber yarn, knitted and textile apparel, tobacco raw materials.