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 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.
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NEWS
Belarus, Russia should gradually lift transport restrictions
 Belarus and Russia should gradually lift transport restrictions, Prime Minister of Belarus Sergei Sidorsky said as he met with Russia’s Transport Minister Igor Levitin in Minsk on June 23. The Prime Minister remarked, transport authorities of Belarus and Russia are now working hard to put together specific documents able to advance economic entities of the two states to new relations. In 2007 Belarus-Russia transport turnover increased by 120%. 245,000 Russian vehicles travelled through Belarus, specified the Prime Minister.
Transport policy of Belarus and Russia will be discussed at the forthcoming session of the Union State Council of Ministers in Moscow on June 27, said Sergei Sidorsky. The sides will also talk over the development of transport infrastructure as well as other topical issues the transport authorities of the two countries want addressed.
According to the Prime Minister, collaboration of transport authorities of Belarus and Russia allows advancing forward and resolving transit issues. In 2008 Belarus ratified an agreement to simplify all transport procedures. Belarus is also in favour of removing transport control and putting it to the external border of the Union State. “It will allow abandoning cargo escort,” said Sergei Sidorsky. He specified, it had been him who had unearthed the issue and had discussed it with the former Russian Premier.
In turn, Igor Levitin remarked, Belarusian and Russian transport authorities strive to make border crossing easier for truckers. In 2007 cargo transportation volume skyrocketed as well as the freight costs, which means transport companies started earning more. At present the sides are working on harmonising the tariff policy concerning cargo transportation.
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© 2005-2008 Staff of the Council of Ministers of the Republic of Belarus
No part of this information may be reproduced in any form without reference
Information support from the Republican Unitary Enterprise Belarusian News Agency
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 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.
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 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.
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 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.
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 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.
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 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.
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 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.
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 Enterprises producing biofuel will be set up in all the regions of Belarus, Belarusian Prime Minister Sergei Sidorsky told reporters.
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 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.
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 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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