BELARUS WOULD LIKE TO BE VENEZUELA’S KEY TRADING PARTNER

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Belarus would like to become a key trading partner for Venezuela, Viktor Sheiman, a special aide to the President of Belarus on special matters, co-chairman of the joint Belarusian-Venezuelan high level commission, noted during his meeting with Rafael Ramirez, Minister of Energy and Petroleum of the Bolivarian Republic of Venezuela, in Minsk on 2 July.

First Vice Premier of Belarus Vladimir Semashko also took part in the talks.

According to Viktor Sheiman, the bilateral Belarusian-Venezuelan relations continue developing and are based on political cooperation at the highest level. The complementarity of the Belarusian and Venezuelan economies is the guarantee of the successful development of the trade and economic cooperation, he noted. “Belarus would like to be a key trading partner for Venezuela,” Viktor Sheiman underscored.

“We would like to have a balanced and mutually beneficial cooperation,” he underscored. In 2008, the two countries increased the trade four times. “During today’s difficult economic situation, Belarus and Venezuela have to coordinate their actions in foreign trade more closely. The joint projects should be give a boost,” the co-chairman of the joint Belarusian-Venezuelan high level commission noted.

According to him, during the recent visit of the Venezuelan Vice President to Belarus, the sides adopted concrete measures to intensify the implementation of the joint projects. The sides reached the results which helped launch joint companies in Venezuela with the participation BelAZ, MAZ and MTZ. During the session of the Belarusian-Venezuelan high level commission, that will be held in Caracas in August this year, the sides will give an impetus to implementation of other mutually beneficial projects. “Belarus is ready to satisfy Venezuela’s demand for technological, electronic and industrial equipment, quarry and road equipment,” Viktor Sheiman underscored.

In turn, Rafael Ramirez expressed satisfaction with the level of bilateral cooperation, especially in the energy area. “We have started reaping benefits of this joint work in our country,” he stressed.

"Venezuela is satisfied with Belarusian-Venezuelan joint projects. We are fully satisfied with the projects implemented jointly with Belorusneft, and also the projects in gas and oil production,” said Rafael Ramirez. According to him, it demonstrates the political willingness for cooperation and attests to the high quality of Belarusian equipment.

Today the two sides are set to sign a number of documents such as an act of transfer of three new oil assets to Belarusian-Venezuelan joint venture Petrolera BeloVenezolana, a memorandum on a gas joint project in Venezuela and a memorandum of intent to establish a joint venture in oil maintenance. Belorusneft and Intevep Company are going to sign a technological cooperation agreement.

Petrolera BeloVenezolana, Belarusian-Venezuelan oil production joint company, have been given three new oil assets. Rafael Ramirez, Energy and Petroleum Minister of Venezuela signed the act of the transfer in Minsk today.

Alexander Liakhov, Director General of the Belorusneft Production Association, and Rafael Ramirez also signed a memorandum on a gas joint project in Venezuela and a memorandum of intent to establish a joint oil maintenance company. Belorusneft and Intevep Company concluded a technological cooperation agreement.

Belarusian-Venezuelan joint venture Petrolera BeloVenezolana was established at the end of 2007. It extracted 690,000 tonnes of oil from Guara Este and Lago Medio deposits in 2008. The new assets will help the company increase oil production.

In 2008, trade between Belarus and Venezuela increased by 298% from 2007 due to the increase of the export and totaled $173.3 million. Belarusian export surged by more than 305% to $173.1 million. The import amounted to $147,000 (down six times). Belarus had a $172mn surplus of more than in trade with Venezuela.

In January-April 2009, Belarusian export to Venezuela doubled over the same period 2008. Import was virtually non-existent.

Belarus major exports to Venezuela are potash fertilizers, trucks, tractors, special-purpose vehicles, topographic devices and instruments, trailers and semi-trailers, tyres, road equipment, soil-tillage machines, fried milk. Belarus imports coffee from Venezuela.

In 2007 the Belorusneft Production Association opened its office in Venezuela.
Belarus and Venezuela created a joint oil production companies, Petrolera BeloVenezolana and the Sismica BeloVenesolana joint seismological venture. Belgorkhimprom has opened its representative office in Venezuela.

In Venezuela there are joint ventures set up jointly with BelAZ (Ven-BelAZ Camiones C.A.), BelavtoMAZ (MAZ Ven C.A.) and MTZ (VeneMinsk Tractores C.A).

The Belzarubezhstroi company has opened its representative office in Caracas.

Belarus and Venezuela have been steadily developing cooperation in construction. In particular, the two sides have opened a joint venture to produce construction materials and a company for the implementation of the infrastructure and dwelling project in the Macarrao region in Caracas. The sides also implement the dwelling project in the state of Aragua (5,000 apartments).

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