Belarus, China to set up working group to simplify trade procedures

Belarus and China will set up a working group to simplify trade procedures, the Belarusian Economy Ministry told BelTA following the meetings of the commission on trade and economic cooperation of the Belarusian-Chinese Intergovernmental Committee on Cooperation and the working group on the China-Belarus industrial park Great Stone. The events were attended by Belarus' First Deputy Prime Minister Nikolai Snopkov.

The online meetings were chaired by Belarusian Economy Minister Aleksandr Chervyakov and China's Vice Minister of Commerce and Deputy International Trade Representative Yu Jianhua.

The participants considered the issues of trade, investment, credit and financial cooperation, implementation of projects through technical and economic assistance of the Chinese government, and the development of the Great Stone industrial park.

“Building up bilateral trade is one of the priority and most promising areas of further cooperation between the countries. The need to intensify direct contacts between Belarusian exporters and Chinese trade companies and chambers was noted,” the Economy Ministry said.

The parties agreed to set up a joint working group soon to simplify trade procedures as an additional mechanism to liberalize mutual trade and eliminate trade barriers. The parties considered concluding an agreement between Belarus and China on trade in services and investment.

The parties outlined plans and goals for the further development of the Great Stone park as a new modern city, the region's leading site for high-tech manufactures, the center of attraction of research activities as part of the Belt and Road initiative.