Icelanders look into investments in Belarus

A group of Icelandic businessmen from five companies in Iceland traveled to Belarus to research and learn more about possible investments in the country. The trip was sponsered by the Trade Council of Iceland but also received assistance from the Business Council in Minsk, the capital of Belarus.

The companies that were represented by the businessmen traveling in Belarus were Iceland Seafood, Skinney-Thinganes, Loftleidir (division of Icelandair), MP-Banki, and Kleros which is an investment group in Moscow from Ingolfur Skulason.

Thorleifur Thor Jonsson, manager and curator of the new market at the Trade Council of Iceland, accompanied the group to Belarus. He says that he was very satisfied about this oppurtunity to get to know about the country and to see what Belarus has to offer.

According to the Belarusian Telegraph Agency, Finland and Bosnia and Herzegovina also are showing interest in cooperation with privatization of Belarusian state-owned companies. The Belarusian Sci-Industrial Association is going to sign agreements with the Iceland Trading Council.

"It was not so that trade contracts were signed before or during this trip, however, we sell them fish which they continue selling and distributing throughout the east," says Thorleifur.

Belarus, just like Iceland, is receiving assistance from the International Monetary Fund, although the country did not suffer as harsh of a crisis as other nations in Europe. Thorleifur Thor says that there is a good outlook for the economy in Belarus and that it is possible to find good investment oppurtunities in the future.



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