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The EDB named the country with the highest index of significance of foreign trade turnover with EAEU members

10.07.2020 183 просмотров

The Republic of Belarus has its stable niche in the integration architecture of the Eurasian Economic Union and the international division of labor in general.

Belarusian trade is oriented mainly towards the EAEU states. Among the partners in the integration association, the country has the highest (more than 50%) index of the significance of foreign trade turnover with the members of the Union. This is stated in the report “Main Trends in the Integration Development of Belarus in 2019”, prepared by the Center for Integration Studies of the Eurasian Development Bank (EDB).

Belarus has developed stable long-term ties, including cross-border ones, with the European Union. Relations with the People's Republic of China are actively developing, which considers the country as an important component of the One Belt and One Road project.

Belarus continues to implement an industrial policy aimed at creating an export-oriented economy, and foreign trade continues to have important for the development of the country.

Imports retain their investment and consumer orientation. A significant amount of machinery and equipment imported into the country may indicate the ongoing re-equipment of the real sector of its economy, which is a positive factor for development in the long term.

The experience of Belarus in the field of trade in services, primarily computer, in which the country differs significantly from other members of the EAEU.

Belarus has a significant potential for attracting foreign direct investment, sets ambitious goals for doubling their volume by 2025, aims to improve the investment climate, further improve the investment policy, which would include the development of more efficient mechanisms for attracting foreign capital. In this regard, the country has high hopes for progress within the framework of integration development in the EAEU.

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