On 11 August a business forum in Minsk gathered more than 100 representatives from Belarus and Pakistan to outline possible areas of cooperation between the countries. Both President of the Republic of Belarus and Prime Minister of Pakistan took part in the opening ceremony of the event.
The list of areas without common interests for Minsk and Islamabad is getting shorter. Belarus is now ready to discuss opportunities of joint implementation of several large projects in Pakistan, and to contribute to the China Pakistan Economic Corridor.
“We shall make use of our (of both Belarus and Pakistan) good relation with China. With the geographic and economic complementarity of three countries, the Triangle Minsk – Beijing – Islamabad can therefore be a promising formula for cooperation”, — noted the Belarusian leader the day before.
At the forum the conditions of doing business in Belarus and the country’s economic potential were presented by the National Agency of Investment and Privatization.
«One of the main advantages of working with Belarus as a country which is on the rise, is many market niches that have not been saturated, – noted Director of NAIP Natallia Nikandrava. – The Government is interested in their development too. And in order to foster the enhancement of the competition level in certain market segments, our country offers special incentives for foreign businesses to exploit these opportunities.”
According to the representatives of Belarus, economic relations with Pakistan should become more dynamic, and develop from trade only to production and investment too. The potential of two countries is much more than 58 mln USD trade turnover. Both sides should move towards reaching agreements which in turn will lead to a breakthrough in industry, logistics, agriculture and other.
“We can raise the turnover up to 1 bn USD. In order to do this, certain measures should be implemented, including those in banking sector, which will make financial transactions between the countries possible, — said сo-chairman of the Belarus-Pakistan Business Council Brigadier Tariq Khalil. – Pakistan is interested in both delivery of goods both ways, and launching joint enterprises, in such promising areas as machinery and textile industry. Other sectors should not be neglected though”.
Among other interests of the potential partners are processing and sale of materials to the building industry, and export of foods (fruit, vegetables, cereals and legumes, rice, and sunflower oil).
Belarusian scientists expressed their readiness to share with Pakistan their research capabilities and existing expertise in medicine and agricultural machinery. Belarus presented about 150 R&D products at the exhibition, which was organized during the forum. Among them scientific results and equipment improvements in machinery, medicine and pharmacy, petrochemicals, new materials, environmental management, food and space technologies were presented.
During the forum several bilateral agreements were signed. Joint ventures for assembling Belarusian machinery will be set up in Pakistan, and there is also one project in textile industry to be implemented.