Ambassador: German investors are much more interested in Belarus as part of the Customs Union

MINSK, 28 October (BelTA) - German investors express a much greater interest in Belarus viewed as part of the Customs Union, Belarusian Ambassador Extraordinary and Plenipotentiary to Germany Andrei Giro told the RTR-Belarus TV channel.

He noted that German investors have the same goals as investors from other countries. They have always invested in the projects which bring profit. The Ambassador said that Germany takes a great interest in Belarus’ transport infrastructure and logistics, which is why Germany’s major railway companies and the air carrier Lufthansa take part in the creation of big logistics centers in Belarus. Alternative energy is a promising area, too. Germany has made a big step forward in this respect as over 15% of its energy needs are covered by alternative sources of energy.

Germany is well aware of Belarus’ potential in chemistry, petrochemistry, oil processing and machine building which is why these areas have been attracting a great deal of investment. New manufacturing enterprises are being set up. A German company is constructing a factory to produce baker's yeast near Slutsk in Minsk Oblast, which will meet Belarus’ domestic demand for quality products used in baking industry. These products will go for export, including to the Customs Union market. “Of course the establishment of the Customs Union of Belarus, Russia and Kazakhstan and its expansion arouses German investors’ interest. Knowing that by building a factory in Belarus they get automatic access to the market of 170 million people the German investors review their prospects and opportunities and stop viewing Belarus as a closed market with the capacity of 10 million people,” Andrei Giro said.

“Belarus and Germany know each other well. However, one has to compete for a place in the sun. Belarus is not the only country to the east of Germany where German investors would like and are ready to come. That is why Belarus has to work hard to keep attracting foreign investors,” Andrei Giro noted.

On 28 October 2013 the Day of Belarusian Economy will be held in Berlin. “This time we decided to focus on Germany’s political elite which is why the Day of Belarusian Economy is held in Berlin. The Association of German Chambers of Industry and Commerce and the Belarusian Chamber of Commerce and Industry are is a vivid example of reliable partnership. These institutions bring together manufacturers, buyers and intermediaries,” the diplomat underlined.

“The present event seeks to give information and an opportunity to ask the necessary questions, hold negotiations in order to sign contracts,” Andrei Giro stressed.

The Day of Belarusian Economy will be held at the Haus der Deutschen Wirtschaft [the House of German Economy], which is the headquarters of the Association of German Chambers of Industry and Commerce and two major non-governmental associations, the Federal Union of German Industry and the Confederation of German Employers’ Associations. The Belarusian delegation will comprise 52 members. Among them will be Deputy Foreign Minister Alexander Guryanov, Deputy Economy Minister Anton Kudasov, member of the customs cooperation board of the Eurasian Economic Commission Vladimir Goshin and Sergei Rumas, Chairman of the Board of OAO Development Bank of the Republic of Belarus, Chairman of the Commission for the Creation and Operation of the Customs Union and the Single Economic Space. The delegation will also include representatives of executive authorities of all the oblasts of Belarus.

Each region will develop its own program, present new investment projects and the successful experience of Belarusian-German business cooperation. Brest Oblast is planning to submit a project on the development of the glass sand deposit, Vitebsk Oblast - the logistics center project at the airport of Vitebsk, Gomel Oblast - the Polesie-Lelchitsy Industrial Park project, Grodno Oblast will highlight the experience of interaction within the framework of the Grodnoinvest Free Economic Zone. Mogilev Oblast is going to hold negotiations on light industry issues. Minsk Oblast will present a number of projects to build processing plants in Minsk and Soligorsk. The Belarusian office of Ernst & Young will deliver a presentation on the business climate in Belarus in view of the recent changes and ratings. Investment issues will be covered in the report by Zubr Capital. A presentation of the Belarusian-Chinese Industrial Park is also included in the program.