Potential investors praise Belarus plans

Buenos Aires News.Net

In a push to revive its cash-strapped economy and lessen its dependence on Russia, potential investors have been at a forum in Minsk to hear the country's plans to form a new customs union with Russia and Kazakhstan from July 2010.

As part of the bloc of ex-Soviet states, Belarus wants to become a gateway for businesses into the area.

Unlike neighbouring Ukraine, Belarus has remained relatively insulated from the global financial crisis and has offered its potential investors a measure of political stability,

Its president, Alexander Lukashenko, has been in power since 1994.

The International Monetary Fund last month praised Belarus' fiscal policies and its reforms to develop the private sector.

Belarus is one of the world's lowest-rated countries according to Moody's and Standards and Poor's ratings agencies, with the state still controlling some 75 percent of the economy.


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