Updated at 10:54,14-11-2017

Belarus Intends To Boost Export To EU By $700 Mln In 3 Years

BelarusFeed / TUT.BY

Belarus Intends To Boost Export To EU By $700 Mln In 3 Years
Belarus wants to raise its export to the European Union to 6.2 billion U.S. dollars by 2020.

Trade targets for 2018-2020 were set by the Government on 9 October.

The target export to the EU for 2018 is $5.5 billion and $5.9 billion for 2019.

By 2020 the govenment expects Belarusian enterprises to export goods worth $6.2 billion.

Half of all exports to the European countries will be constituted by the production of the petrochemical complex.

The industrial export is supposed to grow by $200 million to 859 million dollars. JSC Belarusian Potash Company is expected to earn the revenue of $150-170 million.

A while ago Prime Minister Andrei Kobyakov urged Belarusian exporters to strengthen their positions in the Russian market as well as diversify the range of goods for export to the European Union.

His words are in tune with the target set by the President Alexander Lukashen – to distribute exports uniformly between the countires of EAEU, EU and the countries of the “far arc”.

According to the PM, such distribution has not yet been reached. In January-July 2017 the biggest share of Belarusian export – 47.8% – went to the EAEU, of which Russia accounted for 45.3%.

The share of goods delivered to the EU countries made 26.5%. In Europe Belarus is still mainly represented by oil and petroleum products, wood products, and potash fertilizers, Andrei Kobyakov said.

So far this year Belarus has earned $4.2 billion from selling of good and services to the EU.