ON OCTOBER 29, MINSK HOSTED A LARGE-SCALE PRACTICE-ORIENTED EVENT OF THE BELCCI, THE INTERNATIONAL LEGAL FORUM "AFRICA: LEGAL ASPECTS OF DOING BUSINESS". THE PARTICIPANTS – REPRESENTATIVES OF BELARUSIAN COMPANIES THAT UNDERSTAND THE PROSPECTS OF THE AFRICAN CONTINENT FOR EXPANDING THEIR EXPORT HORIZONS AND ARE INTERESTED IN SUCCESSFUL PARTNERSHIPS WITH AFRICAN COUNTRIES – HAD A UNIQUE OPPORTUNITY TO DISCUSS THE RISKS AND OPPORTUNITIES OF ENTERING THE AFRICAN MARKET WITH THOSE WHO ALREADY HAVE PRACTICAL EXPERIENCE IN THE CONTINENT AND ARE READY TO SHARE IT.
For Belarus, especially given the current trends and the need to diversify export supplies and enter the far arc markets, the expansion of trade and economic relations with African countries is becoming increasingly important.
Africa is a large continent, the second largest after Eurasia. Not for nothing it is called the continent of the future. Six of the ten fastest growing economies in the world are located in Africa. Belarus noticed this trend long ago and is now increasing its cooperation with all the countries of the region.
Belarus is strengthening its presence in this huge and promising market. More and more domestic producers are following this path. Belarusian exports to African countries have almost quadrupled since the beginning of 2024. But, according to representatives of state bodies and business both in our country and in different African countries, this is far from the limit.
At the same time, while entering the African market, enterprises may face some peculiarities that take time to adapt to. There are 54 countries, and sometimes even neighbouring states have very different specifics in politics, economics, law system, business culture and business landscape. Therefore, for the businesses that are going to work in Africa it is important to know the continent, its legal system, the mechanisms to verify counterparties, product certification procedures, and many other things.
To facilitate the work of Belarusian exporters, the Belarusian Chamber of Commerce and Industry organized a large International Legal Forum "Africa: Legal Aspects of Doing Business", which was held in Minsk on October 29.
The forum became a platform for discussing topical issues, including legal aspects of contracts, investment risks and protection of entrepreneurs' rights. It gathered more than 240 participants: representatives of the state administration, legislative branch, legal, foreign economic and financial services of enterprises, experts-practitioners, including foreign speakers.
The forum organizers aimed not only to talk about the opportunities and prospects of the African market, but also to help Belarusian enterprises to understand key legal issues, to present schemes and algorithms of work, specific examples of successfully implemented projects and resolved disputable situations.
The forum was opened by welcoming speeches by Mikhael Miatlikov, Chairman of the BelCCI, Dmitry Mironchik, Director-General for Asia, Africa and Latin America of the Ministry of Foreign Affairs of the Republic of Belarus, Roman Tomkovich, Deputy Chairman of the Board of Belinvestbank.
The Chairman of the BelCCI noted the relevance and significance of the forum as an opportunity for Belarusian enterprises to talk to real professionals who have successfully dealt with the pitfalls of commercial activity in the African market.
Emphasizing once again the prospects of cooperation with the countries of the continent, he wished the forum participants interesting and fruitful discussions.
Dmitry Mironchik, Director-General for Asia, Africa and Latin America of the Belarusian Foreign Ministry, also noted the significant prospects for partnership with African states. He emphasized that Belarus and Africa have a long history of friendship and mutual support, equitable and good faith cooperation. The relationship has only strengthened over more than 30 years of independence. The countries exchange high and leaders' level visits, the number of joint programs and events is growing, embassies have been opened. "Good political contacts are converting into economic projects with added value for both sides," the Foreign Ministry spokesman said. "According to the results of January-August 2024, Belarusian exports amounted to almost half a billion dollars. We have surpassed the level of the peak pre-Covid year of 2019, when the whole-year exports amounted to 410 million US dollars. 2024 will be a new reference point for us. The work to sustainably increase exports continues."
Dmitry Mironchik emphasized that Belarus is ready for more advanced forms of interaction and offers a comprehensive approach to the development of industries. "In this regard, it is very relevant to hold some events like today's forum, which are focused on practical aspects of doing business in Africa," he said. "It marks that the partnership of Belarus and Africa is serious and will last long. We stand for fair and equitable relations between the states, which would bring mutual benefits to the countries."
Roman Tomkovich, Deputy Chairman of the Board of Belinvestbank, noted that, according to the statistics, particularly banking statistics, Belarusian exporters are successfully overcoming trade restrictions and developing new markets. At the same time, entering the markets of the far arc countries is associated with risks, and companies do not always fully know how to manage them. The forum, according to him, is an opportunity to gain important insights. "One could say that the African market is developing avalanche-like. It opens up great prospects for Belarusian exporters due to the fact that our goods, works and services are in demand internationally. Today, at the forum, the participants will be able to get answers to the questions of where to turn in order to interact more actively with business entities in Africa, who can provide qualified advice on the requirements in this or that state, what are the peculiarities of communication, as well as to many other questions," Roman Tomkovich said.
The practical agenda included a wide range of topics covered by 16 speakers – representatives of scientific institutions, export support organizations, legal, insurance, logistics companies, trading agencies, diplomatic missions, large enterprises with successful experience in African countries, as well as independent experts.
The program of the event covered various aspects of work on the African continent: from mentality and trade barriers to practical issues of contracting, arbitration practice and building-up business models.
The topics of the speakers' presentations were:
"Business in Africa – opportunities and challenges. Typical entry mistakes, risk minimization algorithm";
"Foreign trade contracts with African counterparties: common problems and specific risks";
"How to avoid becoming a victim of fraudsters while working with African countries";
"Peculiarities of sales and the mentality of the African continent population";
"Africa's economic growth. Trade barriers and key export commodities. Cultural specificities. Risks and their minimization. Long-term
potential";
"Insurance for supplies to African countries";
"Peculiarities of doing business and business models. Localization and its advantages when working in African countries (on the example
of Egypt)";
"Features, advantages and risks of working in special economic zones in Kenya, government procurement, popular types of business for a foreign company";
"Logistics and associated risks in Africa";
"Belarus – Africa. Optimization of foreign economic activity: risk-free payments and routes";
"Distinctive features of "African Law" in the context of Egyptian law system: doing business peculiarities and important aspects";
"Comparison of state and international arbitration courts in Africa. Key arbitration institutions. Cost and timing of court and arbitration proceedings. Recognition and enforcement of judgements";
"Dispute resolution under the rules of the Cairo Regional Centre for International Commercial Arbitration (CRCICA)";
"Peculiarities of working with legal advisors in Africa";
"Ease of doing business in South Africa from a legal perspective".
Experts will detail on some of the topics on the pages of the next issue of the "Mercury" newsletter.
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