August 26, 2005

Belarus : Belarusian-Korean top authorities meeting scheduled on Aug 26-27

Belarusian-Korean ministerial consultations at the top authorities are scheduled on August 26-27 in Minsk. Present spokesman for the Belarusian foreign ministry Ruslan Esin described the consultations will concentrate on the consequences of the earlier contracts and on vital bilateral issues.

First of all, the parties will accept the subject of development on political contacts, trade and economic and scientific and technical collaboration and appeal of the Korean investments into Belarus.

In 2004 the trade revenue rushes forward to 80.7 per cent to USD 60,5 million. The Belarusian exports went up 1.8 per cent to USD 9,9 million, imports skyrocketed 113 per cent to USD 50,5 million.

Belarus generally exports metallurgy products, potash fertilizers, artificial fibres, integral microchips, semi-conductors and optical goods, oil refinery products in the world market.

It also exports synthetic and artificial fibres, automatic processing machines, radio, X-ray and medical equipment and household appliances, parts of computers, clothes to Korea. The biggest Belarusian exporters to Korea are BMZ, Integral, Khimvolokno of Mogilev and Svetlogorsk, Belaruskaliy.

With the deed of USD 28, 6 thousand with the foreign capital share of USD 20, 6 thousand, a Belarusian-Korean joint venture in Belarus exist with the aim of manufacturing textile footwear and haberdashery products.