Belarusian Industry Ministry aims for $3.2bn foreign trade surplus

        Enterprises run by the Belarusian Industry Ministry intend to raise their foreign trade surplus up to $3.2 billion, Belarusian Industry Minister Dmitry Katerinich told media.
Dmitry Katerinich said: “Our enterprises export over 60% of their products. Securing a foreign trade surplus is a priority for Belarus. It is our state policy. In recent years we have been steadily increasing the foreign trade surplus. Back in 2010 the surplus stood at $1.7 billion. This year we plan to virtually double it up to $3.2 billion”.
        In order to increase foreign trade surplus, the enterprises are intent on switching from simple sales to the creation of joint ventures abroad, joint assembly enterprises, and even the construction of new factories. The construction of several factories in Venezuela is an example of that. It produces tractors and MAZ automobiles. It will allow exporting more to Venezuela as early as next year. Minsk Tractor Works (MTZ) has already contracted to deliver $320 million worth of tractors and assembly kits by mid-2014.
        The Industry Minister said: “The construction of factories in Venezuela enables not only access to the market but allows servicing our vehicles. It is an important aspect, therefore we have made the decision and are now building a factory to make Amkodor construction and road machines”.