China named key investor of Minsk Oblast

China maintains partner relations with Minsk Oblast in various fields

China is the key investor of Minsk Oblast, Sergei Zheleznyak,the head of the economy committee of the Minsk Oblast Executive Committee, said when speaking at the Chongqing tea presentation in the Friendship House in Minsk, BelTA has learned.

China maintains partner relations with Minsk Oblast in various fields. The cooperation has been growing most rapidly in trade and economy, Sergei Zheleznyak noted. Last year the trade between Minsk Oblast and China amounted to over $1 billion, an increase of more than 28%. The region is the largest supplier of potash fertilizers to the Chinese market. “In turn, China is a promising investor in the economy of Minsk Oblast. The volume of direct investment from China totaled $58.6 million in 2017,” Sergei Zheleznyak said.

Minsk Oblast has a considerable export potential. It is home to the country's major enterprises such as BelAZ, BelGee, the China-Belarus industrial park Great Stone. Minsk Oblast is the largest producer of agricultural products in Belarus. All dairy companies located in the region have certificates to deliver products to China. Some local companies supply beef and poultry.

Sergei Zheleznyak touted the tourist possibilities of Minsk Oblast. With regard to cooperation with the city of Chongqing, it is based on the cooperation agreement between the regions of 2002. Every year the regions exchange visits, outline new areas of cooperation. The event was organized by the Belarusian society of friendship and cultural relations with foreign countries, the China-Belarus friendship society and the Uvisit cultural-business center.

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