On Cooperation Between Belarus and Armenia in Economic Sphere

Harold Doan and Associates, CA
Feb 22 2005

On Cooperation Between Belarus and Armenia in Economic Sphere

Feb. 22 2005

Press Release – Ministry of Foreign Affairs

The Belarusian embassy in Armenia has been developing projects on
setting up assembling manufacturers for Belarusian tractors and
agricultural equipment in that country. As councilor of the
Belarusian embassy in Armenia Alexander Soloviev informed, this will
help to increase competitiveness of the Belarusian commodities by
cutting down its prime cost.

In 2004 the trade-economic relations between Belarus and Armenia had
been developing quite dynamically. The mutual trade turnover reached
$10,8mln, an increase of 12,4% on 2003. The export jumped to $8,7mln,
a 19,3% increase.

The Belarusian commodities at the Armenian market face tough
competition on practically all positions. At the same time they are
still in demand. Thus, products of BelAZ continue to top the list of
the most important exports to that country. Last year 12 dump trucks
to the total amount of $1,5mln were bought by Armenia. Belarusian MAZ
trucks, tractors, road equipment are in high demand there as well.

In 2004 for the first time Belarusian foodstuffs and alcoholic
beverages came on the Armenian market as a shop selling the products
of the republican unitary enterprise Minsk-Kristall opened in
Yerevan. The products of the joint venture Santa Bremor as well as
dried milk and chocolate goods are in demand in Armenia. The
Belarusian embassy plans to increase the supply of the
above-mentioned goods and expand their assortment in the near future.

2004 saw opening of the affiliate of the republican unitary
enterprise Belmedpreparaty in Armenia. This step enabled to increase
by 46% the export of the Belarusian medicine to the country. By the
way, Belarusian medicine has always been a traditional item in the
Armenian import paradigm.

The main objective of the Belarusian embassy in Armenia in 2005 is to
provide stable functioning of the active trading network as well as
its expansion, Alexander Soloviov stressed.