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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 CIS COUNCIL OF HEADS OF GOVERNMENT

Belarus, Turkmenistan consider supplies of Belarus’ agricultural equipment

Belarus and Turkmenistan are considering cooperation prospects related to supplies of Belarusian agricultural equipment. President of Turkmenistan Kurbanguly Berdymukhamedov stated at a meeting with the CIS heads of government in Ashgabat that Turkmenistan plans to reform the agricultural production and is interested in supplies of new agricultural equipment.

On November 21 Prime Minister of Belarus Sergei Sidorsky held talks with President of Turkmenistan Kurbanguly Berdymukhamedov in a one-to-one meeting.

The President of Turkmenistan expressed confidence in a fruitful outcome of the session of the CIS Council of Heads of Government. He underlined that economic cooperation is of special importance for the two countries.

Belarus negotiates possible participation in gas extraction in Turkmenistan, Sergei Sidorsky says

Belarus has been negotiating its possible participation in the gas extraction in Turkmenistan, Prime Minister of Belarus Sergei Sidorsky told reporters.

According to him, Beltransgaz and other companies are involved in negotiations however no agreement has been reached yet.

On November 21 the Prime Minister of Belarus met with President of Turkmenistan Kurbanguly Berdymukhamedov in Ashgabat. They discussed issues on cooperation in the oil and gas sphere. The Prime Minister noted that the issue on servicing oil wells was quite pressing in Turkmenistan. Belarusian companies have rich experience in this area. In the near future a representative office of a corresponding Belarusian company might be opened in Turkmenistan.

Sergei Sidorsky reported that Belarusneft offered to build a plant on methanol production in Turkmenistan. “The project of plant construction will give an opportunity to Belarus to anchor in this market,” he said. Belarus has presented the projects and is waiting for a response from Turkmenistan’s authorities.

This year Belarus to sell over 2,700 tractors to Turkmenistan

This year Belarus will sell over 2,700 tractors to Turkmenistan, Prime Minister of Belarus Sergei Sidorsky told reporters when commenting on a meeting with President of Turkmenistan Kurbanguly Berdymukhamedov on November 21 in Ashgabat.

Next year Belarus plans to boost supplies of MAZ trucks to that country as well since Turkmenistan has been carrying out a programme on renovation of its agricultural facilities and vehicle park.

Speaking about the trade-economic relations between Belarus and Turkmenistan, Sergei Sidorsky stressed that the $70 million turnover was insufficient. “This figure prompts us to intensify negotiations on boosting Belarus exports,” he said.

According to Sergei Sidorsky, the meeting also focused on cooperation in the field of construction. In particular, opportunities of sending specialists of Belarusian design companies to Turkmenistan were discussed. The parties also considered prospects of cooperation in the petrochemical sphere.

CIS to devise strategy on food market development soon

A strategy on the CIS food market development will be devised in the near future. As Belarusian Prime Minister Sergei Sidorsky told reporters on November 22, issues relating to ensuring food safety of the CIS countries are especially urgent. It is connected with the world tendencies for grain and livestock product prices to go up.

In this conjunction, Sergei Sidorsky said, the CIS food programme should be adjusted to offer the member states proposals concerning forming the CIS single food market. On November 22 a session of the CIS Council of Heads of Government took a decision to set up a working group composed of the CIS Ministers of Agriculture and Foodstuffs to devise a strategy on the Commonwealth food market development.

According to Sergei Sidorsky, on November 22 the Belarusian side initiated discussion of the further development of the integration within the framework of the Commonwealth. As a result, the sides agreed to found a working group under the CIS Economic Council, which will present a concrete programme on the CIS further economic development in two-three months.

Moreover, the session focused on cooperation in the transport sphere and migration policy. On the whole, more than 30 important documents were discussed.

Representatives of all 12 CIS member states took part in the session.

On the initiative of the Belarusian side the next session of the CIS Council of Heads of Government will be held in Minsk in May 2008.

PUBLICATIONS OF THE COUNCIL OF MINISTERS
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Belorusskaya Niva/Belarusian Cornfield Newspaper

Economy of Belarus/Economika Belarusi Magazine

Zvyazda Newspaper
 
INTERNET RESOURCES
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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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