Belarus-Italy trade may reach $2.5bn in 2014

        In 2014 Belarus-Italy trade may reach $2.5 billion, BelTA quotes Ambassador of Belarus to Italy Yevgeny Shestakov. According to the diplomat, Belarus-Italy interaction is strongly influenced by the rapidly developing trade and economic relations, the steady growth of the trade turnover, as well as active humanitarian cooperation. Over the last five years Belarus-Italy trade turnover has more than doubled and exceeded $2 billion in 2013. Over the period Belarus’ export increased by virtually five times. It is worth noting that the balance of Belarus-Italy trade did not favor Belarus in previous years while in January-May 2014 Belarus had a foreign trade surplus. Machine tools, technologies, and equipment comprise up to 60% of Belarus’ import from Italy.
       Speaking about prospects regarding the end of the year, the Ambassador noted he believes that Belarus and Italy will reach balanced trade. In January-May 2014 Belarus-Italy trade exceeded $1 billion, with Belarus’ export 25% up from the same period of last year. “I think we have all the reasons to believe the bilateral trade will reach $2.5 billion this year,” added the Ambassador.