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29 May 2013

Indian delegation in Minsk

Belarus - India


Only signing an Agreement on free trade between India and the Customs Union will open the way to the Indian market for Belarusian products


Despite the high level of political relations between Belarus and India, trade between our countries is weak. According to the Foreign Ministry of Belarus, the volume of bilateral trade between the two countries in 2012 amounted to 494.6 million USD. The Indian market imported  over 90 items of Belarusian goods worth 262.2 million USD

In January - February 2013 the volume of the Belarusian-Indian trade has reached 61.0 million USD, including Belarusian export value of 31.4 million USD. In India we exported potash and nitrogen fertilizers, heavy trucks, tow synthetic fibers, acrylic fibers, bearings, tires, transmitting and receiving equipment, leather.

From India Belarus imports medicines and pharmaceutical substances, tobacco, tea, fish, spices, nuts, vegetable oils, some chemicals, cotton yarn.

In India, there are registered offices of CJSC "Belarusian Potash Company", JSC "Beltechexport", JSC "Amkodor", a joint venture BelAZ Enrika Mining Equipments Services Private Limited. In November last year around  60 Belarusian companies took part in the 32nd Indian trade fair, supported by presence of b Belarusian Prime Minister Mikhail Myasnikovich.

Twice, in 1997 and 2007  Alexander Lukashenka was officially visiting India. During 20 years, Belarus also was visited by many Indian delegations of all branches of government. But trade and economic relations still remain at a low level.

During the visit of the Speaker of the People's Chamber of the Parliament of the Republic of India Meira Kumar, which held in May 20-21, Lukashenka said: "The existing turnover of half a billion dollars - that's quite a bit. I think we need to put more big goals and go from simple commodity to the cooperative ties and establish joint ventures here and there, in India, to deepen our trade and economic relations. "

The state policy of India is top restrict import as much as poissible. The Government seeks to ensure that all  the country needs is being produced there. Enternal markets are  protected by high customs duties, which can be up to 50-70% for goods, which competes with Indian analogues. Therefore Belarusian goods, except potash, can be push into the Indian market or in case of an agreement on free trade zone with the vehicle, or the production of goods founding of the Belarusian accessories in India.

Possibility of an agreement on free trade zone between the Customs Union and India has become one of the topics of discussion during the meeting of Mikhail Myasnikovich and Meira Kumar.

"I would like to know your views on the possible elaboration and conclusion of a free trade zone between the Customs Union, which includes Belarus, Russia and Kazakhstan, and India. Soon I will meet with President Dmitry Medvedev of the Russian government, and we could discuss this topic "- said Mikhail Myasnikovich. He confirmed that Belarus and India are ready to move from simple trade to the implementation of joint investment projects.

Speaker of the Lower House of the Indian Parliament has passed invitation to visit India to the Speaker of the House of Representatives Vladimir Andreychenko, and also assured that Belarusian students will continue to undergo training in Indian universities under government programs.

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