Belarus, China to implement new joint projects worth $1.5bn

Belarus has plans to sign agreements with China to fulfill new major joint projects estimated at $1.5 billion in 2011, Deputy Prime Minister of Belarus Anatoly Tozik said as he met with member of the Central Committee of the Communist Party of China, Communist Party Secretary of the Inner Mongolia Autonomous Region Hu Chunhua on 10 May.

“If everything goes as planned, in 2011 we will sign another set of agreements to implement new major projects with China estimated at $1.5 billion,” the Vice Premier said. In his words, the two countries are successfully implementing a series of investment projects worth almost $4.5 billion, of which nearly $2.5 billion are a credit support of the Chinese government and Chinese banks. “The government of China and leading Chinese banks have opened a credit line for almost $15 billion for Belarus. We highly appreciate it,” Anatoly Tozik emphasized. 

The Deputy Prime Minister added that this year marks the 20th anniversary of the diplomatic relations between the countries. “All this time our relations have been developing vigorously, incrementally without big and even small problems and disputes,” Anatoly Tozik said. He reminded that when the countries established diplomatic relations, the bilateral trade stood at merely $40 million. “Last year the bilateral trade hit $2.52 billion,” the Vice Premier said. At the same time, Belarus and China still have reserves to expand cooperation and increase the bilateral trade. 

A number of Chinese corporations are now successfully operating in Belarus. Some of Chinese investors run ambitious projects with Belarusian partners. For example, the Chinese holding company Midea and Belarus’ Horizont have set up a mass production of microwave ovens. The two giants plan to construct more plants in Belarus. Besides, a company to produce hydromechanical transmissions for large-size vehicles was registered in Belarus last year. 

Belarus-China joint ventures successfully operate in China, too. They produce tractors, quarry machines, fodder harvesters. 

Anatoly Tozik emphasized the importance of the bilateral cooperation in power engineering and cement production. He attached a special priority to a project to set up a Belarus-China industrial park. The construction site has already been chosen, it adjoins the National Airport Minsk. Anatoly Tozik assured that Belarus will continue exporting high-quality machines to China and providing Chinese partners with quality maintenance service. “You will have no problems with operating our machines there,” he underlined. 

Hu Chunhua noted that China highly values the relations with Belarus and hopes to expand the bilateral cooperation. “Belarus has always tried to help us; we support each other, maintain very friendly relations,” Hu Chunhua said.

According to