2005-09-30 23:54:16

Belarus, Germany sign avoidance of double taxation agreement

MOSCOW, Sept. 30 (Xinhuanet) -- Belarus and Germany Friday signed an avoidance of double taxation agreement to promote the two countries' economic cooperation, the ITAR-TASS news agency reported.

The total amount of trade between Belarus and Germany grew by 27.5 percent last year and totalled 1583.8 million U.S. dollars, the Belarus foreign ministry said.

In the first half of 2005, trade turnover between the two countries grew by 13.9 percent, mostly due to the rapid growth of Belarus exports.

Belarus exports to Germany mainly consist of mineral products, timber goods and textiles. Germany, Belarus' second most important trade partner after Russian, exports high-tech goods and chemical products.

Meanwhile, Germany, the biggest European economy, invested some 105.75 million dollars in Belarus last year, the third largest amount after Switzerland and Russia, and held second place among Belarus' creditor countries, according to the Belarus foreign ministry. Enditem