BELARUS NEWS AND ANALYSIS

DATE:

08/08/2007

Belarus Keen To Expand Trade, Investment Ties With Malaysia

KUALA LUMPUR, Aug 8 (Bernama) -- Belarus, an Eastern European country of 10 million people, is keen to forge and enhance trade and investment cooperation with Malaysia.

"Belarus is strategically located and Malaysian companies can use the former Soviet republic as a gateway to European Union countries in the west and Russia in the east," its Foreign Minister, Sergei Martynov, told Bernama during his recent visit to Malaysia.

Landlocked Belarus, which declared its independence in 1991, has as its neighbours -- Poland to the west, Ukraine to the South, Latvia and Lithuania to the north and the Russian Federation to the east.

It has a relatively well-developed and diversified industriel base, a broad agricultural sector and a high education level with literacy rate of almost 100 per cent.

In heavy industry, Belarus is one of world's top manufacturers of heavy dump trucks, tractors and a wide range of agricultural and road-building machinery.

Belarus has a well-developed chemical industry and is a world player in the fertiliser industry which Malaysia is one of its markets.

It is a member of the Eurasian Economic Community which groups besides Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.

Belarus is now negotiating for accession to the World Trade Organisation.

The country is also well-known for its high-technology industries such as nano-based technology industries and electronic and laser optics, which are all based on a strong foundation in research and development.

Currently, Malaysia imports potassium fertiliser and machinery from Belarus. Malaysia's exports are natural rubber, spare parts, home appliances and microchips.

Belarus and Malaysia are currently working on a visit of President Alexander Lukashenko to Kuala Lumpur to further enhance bilateral ties.

On reforms and economic liberalisation, Martynov said Belarus was doing it at its own pace, taking into account the overall interests and welfare of the people.

"We believe in step-by-step gradual approach ... we don't believe in political or economic revolution," Martynov said, adding that the government also encouraged private enterprises.

Among all the former Soviet republics in the Commonwealth of Independent States, Belarus has the highest standard of living.

Martynov said currently, about 60 per cent of its industries were state-owned and many of them were difficult to be privatised because they were too huge, with some employing about 30,000 people.

Geographically, much of the 207,600 sq km Belarus is a hilly lowland covered with swamps, forests, rivers and lakes. Its forests cover over one-third of the land. There are also wide rivers emptying into the Baltic and Black Seas.

Belarus' gross domestic product was estimated to be US$79.13 billion (US$1=RM3.46) and per capita income was US$7,700 while real growth rate was eight per cent in 2005. It exports are mainly machinery and equipment, mineral products, metals, textiles, chemicals and foodstuffs.

Its industries comprise manufacturing of metal-cutting machine tools, vehicles such as trucks, tractors, motorcycles and earthmovers. Others are manufacturing of television, fertiliser, refrigerator, radio, textiles, chemical fibres, consumer goods, oil refining, woodworking and defence-related products.

Belarus's major trading partners are Russia, Britain, Netherlands, Ukraine, Germany and Poland.

Peat marshes, the country's most valuable mineral resource, are used for fuel and fertiliser and also in the chemical industry.

Among its main natural resources are peat deposits, granite, dolomitic limestones, chalk, sand, rock, clay, potassium salt and a small quantities of oil and natural gas.

About 26.77 percent of Belarus are arable land and agriculture plays an important role.

Its main products are grain, potatoes, sugar beet, vegetables, flax and milk and beef production.

Martynov said Belarus was also interested to expand ties in education.

"We welcome more Malaysian students as currently there are students from about 70-80 countries in Belarus where the educational cost is low," he said.

Source:

http://www.bernama.com/bernama/v3/news_lite.php?id=278130

Google