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Belarus and China have large potential for the development of economic, trade and investment relations

10 January 2008

Belarus and China possess large potential for the development of economic, trade and investment relations. Such viewpoint was voiced at the meeting on the 8th of January held by the president of Belarus Alexander Lukashenko and the chairman of the People’s bank of China Zhou Syaochuan, the press-center of Belarusian leader revealed to BELTA.

Alexander Lukashenko declared that Belarus welcomes the incoming Chinese investments and will provide the most favorable conditions for Chinese investors.

He pointed out, that China at present is a huge and powerful state both in population and ,what is the most important, in economic power. «We feel serious interest from Chinese investors to Belarus economy, - said the president.  Those investors, who come from China, will not feel any discomfort or problems here".

The president also expressed his gratitude to the high governing officials of the Peoples Republic of China, to the people of China in general for their support and assistance .  "Every single person in Belarus appreciates friendly relations with China and the attitude of your nation to this country", - underlined Alexander Lukashenko. The head of the country also marked, that Belarus would keep to the promises, which had been given during his official visit in PRC such as to remain a real friend, a bulwark of China in Europe.

"As far as cooperation between the central banks of the two countries is concerned, for us it means really serious experience, really big support", - remarked Alexander Lukashenko and added, that the assets in Chinese Yuan were included to the international reserves of Belarus.

The firm ground for comprehensive dynamic development of relations between the bank systems of Belarus and China is created through deepening of trade and economic ties between the two countries. The agreement of cooperation was signed by the National bank of the Republic of Belarus and the Peoples bank of China as well as the memorandum of understanding in the sphere of personnel training and education for year 2007. The memorandum of understanding was also signed between the National bank of Belarus and China commission on regulation of banking activities. The representation office of ОАО "ASB Belarusbank" has been set up in China.

During the meeting the chairman of the Peoples Bank of China noted, that the Prime-minister of PRC who was on a visit to Belarus in November 2007, upon return to Beijing drew the attention of the members of the government to the necessity of giving a boost to the economic, trade and investment relations with Belarus. In Zhou Syaochuan’s opinion, his visit will give an impetus to a more active cooperation between the central banks of the both countries in particular and the cooperation between the two states in general. The parties have large potential for the development of mutual relations.

The board chairman of the National bank of Belarus Petr Prokopovich informed, that during Zhou Syaochuan’s visit in Belarus there is an intention to sign a document, in accordance with which the transactions between the economic subjects of Belarus and China will be made in national currencies of the both countries, though at first as an experiment.

BelTA