The 8th session of Ukraine-Belarus Business Cooperation Advisory Council



Date: 03 October 2019

The eighth session of the Belarus-Ukraine Business Cooperation Advisory Council was held in Zhitomir as part of the ongoing 2nd Forum of Regions of Belarus and Ukraine.

*Photo by BelTA

The event was attended by the Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich, the President of the Chamber of Commerce and Industry of Ukraine Gennadiy Chyzhykov, the Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Ukraine Igor Sokol, the Ambassador Extraordinary and Plenipotentiary of Ukraine to Belarus Igor Kizim, representatives of more than 260 Belarusian and Ukrainian enterprises and organizations.

During the session, the priority directions of trade and economic cooperation of the regions of Belarus and Ukraine were discussed, as well as the issues related to transit of goods through the territory of Ukraine to Belarus, the EEU and the EU, the application of individual licensing regimen in bilateral trade, the opportunities offered by the Belarusian free economic zones, the possibilities of Belarus-Ukraine investment cooperation, and some successful projects that has been implemented.

There is a big potential for business and interregional cooperation between Belarus and Ukraine, Vladimir Ulakhovich said as he spoke at the session. According to him, there is a big interest in mutually beneficial relations from both the sides, in joint projects in logistics, transport corridors, as well as in technology and industrial cooperation. "This is a long-term outlook. Bilateral trade will remain. Such projects, however, have a great future," he said.

The Ukrainian CCI President, Gennadiy Chyzhykov, thanked Belarusian side for the invitation to various business events and economic forums, adding that such cooperation has been yielding results, contributing to the growth of mutual trade. He believes that there are all conditions to reach $8 billion in bilateral trade in the near future.

Following the session, bilateral negotiations between Belarusian and Ukrainian businessmen were held on cooperation in the following areas: industrial production and engineering, agriculture, petrochemicals, energy and electrical engineering, construction and infrastructure, transport and tourism, pharmaceuticals and medical services, light industry, woodworking, information technology, the financial sector and export-import operations.

Some 40 documents were signed as a result of the eighth session of the Belarus-Ukraine Advisory Council worth over $550 million. The signatories include BNK Ukraine, Milkavita, BelAZ, MTZ, Belkommunmash, BMZ, the Belarusian state light industry concern Bellegprom, MAZ, Belsolod, the Baranovichi-based cotton yarn manufacturer Blakit, Mozyrsalt, the paper mill Spartak, Belarusian Cement Company, Krasny Pischevik, Mogilevliftmash, and Eximgarant of Belarus.

"New avenues have been opened up with the relevant contracts signed. I am talking about not only conventional petrochemical industry and mechanical engineering but also about civil engineering, light industry, and food industry. We are expanding our export portfolio," Vladimir Ulakhovich pointed out.

 

Based on BelTA

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