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Belarus, China eager to sign free trade in services agreement

Belta - 16 September 2022

Belarus, China eager to sign free trade in services agreement

Belarus and China are interested in signing an agreement on free trade in services and on making investments. It will allow promoting free trade in services and will enable transparent access for foreign investments, BelTA learned from the Belarus-China joint declaration on establishing all-weather and all-round strategic partnership.

In line with the document priority avenues of Belarus-China cooperation include the expansion of mutual direct investments, the creation of joint high-tech innovative manufacturing enterprises, the promotion of joint business between Belarusian and Chinese commercial entities, and the encouragement of entrepreneurship initiative.

Both countries are ready to advance manufacturing cooperation, stimulate the establishment of new joint ventures in the two countries in the area of mechanical engineering, assembly of automobiles and electromobiles, agricultural production, power engineering, biotechnologies, and other spheres. The sides intend to facilitate the participation of major Chinese companies in manufacturing cooperation projects and their representation in the charter capital of Belarusian companies.

It is important that Belarus and China support active work of the joint working group on simplifying trade procedures as an additional mechanism for liberalizing mutual trade and removing trade barriers.

Belarus and China are expected to use market principles to continue increasing bilateral trade, optimizing trade structure, increasing Belarus’ export to China, stimulating larger export of products with a high added value and high-tech products to China, and expanding the list of Belarusian manufacturers, which are certified to export their products to China.

 source: Belta