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THE ESSENTIAL
Energy industry investors promised taxation preferences in Belarus

In Belarus energy industry investors will be offered taxation preferences, First Vice Premier of Belarus Vladimir Semashko said at the IV international investment forum in Mogilev on October 9. In his words, the government has prepared two new energy industry bills meant to encourage investments into the industry. They grant taxation preferences for up to 7 years. Investors are expected to recoup their money within five years and use the remaining two years to develop their companies, said Vladimir Semashko.

 

MEETING OF THE COUNCIL OF MINISTERS OF THE UNION STATE

On June 27, 2008 a regular meeting of the Council of Ministers of the Union State was held in Moscow. Belarus has been and remains the main area of the Russian foreign policy, Russian Prime Minister Vladimir Putin said at a meeting with Belarusian Premier Sergei Sidorsky. Vladimir Putin noted that Belarus and Russia continue working in all areas, above all, in trade and economic area, he said. Last year the Belarusian-Russian trade surged by 30% as against 2006. Over the four months this year it was up 60%. “Our efforts yield real results,” Vladimir Putin highlighted.

“We have something to be proud of not only in bilateral cooperation but also in the development of the two states,” Vladimir Putin noted. He also added that in bilateral cooperation Belarus and Russia will pay special attention not only to the economy but also to the social area.

The growth of the Belarusian-Russian economic cooperation is the main result of H1 2008, Belarusian Premier Sergei Sidorsky noted during a session of the Council of Ministers of the Belarus-Russia Union State.

Sergei Sidorsky reminded that over the four months this year, the Belarusian-Russian trade increased by 60% as against the same period last year. “More than 6 thousand companies of Belarus and Russia closely cooperate with each other,” Sergei Sidorsky noted.

It attests to the strengthening of the economic cooperation of Belarus and Russia within the framework of the Belarus-Russia Union State, the Prime Minister highlighted.

The Belarusian-Russian integration should be filled with new ideas and initiatives, Russian Premier Vladimir Putin noted during a session.

Vladimir Putin also noted that it is necessary to preserve the dynamics of the trade and economic cooperation between the two countries. “We should settle a lot of problems: the creation of the single economic area, the formation of the Customs Union, the ensuring of equal rights of citizens of Belarus and Russia that will allow the two countries to reach a new level of the integration,” Vladimir Putin noted.

In 2009, the budget of the Belarus-Russia Union State will be increased by at least 25%, Belarusian Premier Sergei Sidorsky noted during a session of the Council of Ministers of the Belarus-Russia Union State in Moscow on June 27.

According to him, relevant instructions have been given to the governments of both the countries.

A session of the Council of Ministers of the Belarus-Russia Union State paid special attention to the joint production programmes. “The mutual trade should be supported by the joint programmes,” Sergei Sidorsky noted. According to him, the session considered the new programmes concerning the microelectronics, the production of big integral circuits, composite polymeric materials. The sides also discussed the transport, customs and other issues which should give a powerful impetus to development of the integration processes.

PUBLICATIONS OF THE COUNCIL OF MINISTERS
  Respublika Newspaper

Belorusskaya Niva/Belarusian Cornfield Newspaper

Economy of Belarus/Economika Belarusi Magazine

Zvyazda Newspaper
 
INTERNET RESOURCES
  President of the Republic of Belarus

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NEWS
Regions reveal Belarus-Russia cooperation potential

On October 7, Deputy Prime Minister of Belarus Andrei Kobyakov and First Deputy Chairman of Government of the Russian Federation Igor Shuvalov met in the Brest oblast to discuss the issues of further development of the trade and economic relations between Belarus and Russia.

 
Belarus, Ukraine to set up joint ventures in engineering industry

In the near future Belarus and Ukraine intend to set up joint ventures in the engineering industry, First Deputy Prime Minister of Belarus Vladimir Semashko told reporters after the 15th session of the Belarus-Ukraine Intergovernmental Commission for Trade and Economic Cooperation in Kiev on October 7.

Meeting of the Council of Ministers of the Union State

Belarus and Russia should coordinate their efforts in the economic area in the conditions of the global financial crisis, Prime Minister of Belarus Sergei Sidorsky said as he met with Russian Premier Vladimir Putin in the run-up to the session of the Union State Council of Ministers.

 
Trade between Belarus and Ukraine to exceed $5bln in 2008

In 2008, the trade between Belarus and Ukraine will exceed $5 billion, First Deputy Prime Minister of Belarus Vladimir Semashko said. The First Vice Premier is the head of the Belarusian delegation at the 15th session of the Intergovernmental Belarusian-Ukrainian Commission for Trade and Economic Cooperation which is being held in Kiev on October 6-7.

 
Belarus is ready to carry out big projects with participation of European Bank for Reconstruction and Development

Belarus is ready to carry out big projects with the participation of the European Bank for Reconstruction and Development (EBRD), Belarusian Prime Minister Sergei Sidorsky noted during his meeting with Varel Freeman, the EBRD First Vice President.

Austrian capital participates in many key projects in Belarus

Many major projects in Belarus are implemented with the participation of Austrian capital and technologies, Deputy Prime Minister of Belarus Andrei Kobyakov said as he met with Johann Zaks, Director General for Foreign Trade Issues of the Federal Ministry of Economics and Labour of Austria, co-chairman of the Belarusian-Austrian committee on trade and economic cooperation in Minsk on October 2.

Biofuel to be produced in all regions of Belarus

Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.

Belarus downs export oil duty October 1

On October 1, 2008, Belarus will down the crude oil export duty from $495.9 to $372.2 per tonne. The Council of Ministers issued relevant resolution No 1426 of September 27.

 
Belarusian business and expo centre to open in Kazakhstan

A multifunctional trade and logistics centre as well as administration and business and expo centres of the Republic of Belarus will open in Kazakhstan. Their opening was discussed at the fifth session of the Belarusian-Kazakh trade and economic cooperation commission in Astana. The Belarusian delegation was led by Deputy Prime Minister Ivan Bambiza, the Kazakh delegation — Emergencies Minister Vladimir Bozhko, the press service of the Foreign Ministry told BelTA.

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