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BELARUSBANK HOLDS AN INTERNATIONAL SEMINAR ON FOREIGN ECONOMIC ACTIVITY (PRESS RELEASE)

30.09.2013

Practical aspects of foreign economic activity in the Republic of Belarus were discussed at the seminar held on September 25, 2013 in the Head Office of Belarusbank. The event was organized by Belarusbank, Representative Office of German Economy in the Republic of Belarus, German-Belarusian Economic Club and the Information Center of German Economy. The event was attended by representatives of Belarusian economic agents and foreign-owned businesses.

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While greeting the participants, the Chairman of the Board of Belarusbank Siarhei Pisaryk mentioned that for more than ten years of operation in the European market Belarusbank has been rapidly developing cooperation with financial institutions and insurance companies, attracting short-term and long-term foreign resources to the national economy. Further development of mutually beneficial relationship is an integral part of the bank's international business strategy. Siarhei Pisaryk gave prominence to the role of the Federal Republic of Germany in the development of Belarusian-German credit and investment cooperation and assigned high priority to the cooperation with German banks. Ten years ago a Representative Office of Belarusbank was opened in Germany.

"To promote successful development of the country's foreign economic activity the bank attracted more than 1 billion US Dollars, and we are determined to further fortify our positions", underlined the chairman. Among the completed projects is the modernization of engineering, woodworking, construction, oil and gas industries.

In his welcome address the Extraordinary and Plenipotentiary Ambassador of the Federal Republic of Germany in the Republic of Belarus Wolfram Maas mentioned the importance of international economic relationships.

"Opening new markets for Belarusian and German enterprises is the pledge for successful development of our countries and prosperity of their citizens. Extension of credits to Belarus shows our willingness to strengthen cooperation", underlined the ambassador.

Representatives of Belarusian economic agents and foreign-owned businesses discussed instruments of financing foreign economic activity in the Republic of Belarus, possibilities of using international leasing, insurance of export-import operations, advantages of customs clearance of goods, imported to the territory of the Common Economic Space, peculiarities of VAT implementation.

Independent presentations were made during the seminar by representatives of Belarusbank, Commerzbank AG, State Customs Committee of the Republic of Belarus, Belarusian Republican Unitary Export-Import Insurance Enterprise Beleximgarant, ASB Leasing LLC and other participants.

Organizers of the seminar believe that discussing the mechanisms of both Belarusian export and import deliveries, and above all of German high-technology equipment, will favor their future development.

The seminar was the first event held within the framework of the Days of German Economy in the Republic of Belarus.

Note: the Federal Republic of Germany occupies one of the leading positions among the foreign trade partners of the Republic of Belarus in the sales volume. For example, as of year-end 2012 Germany was second after Russia. In the year 2012 as compared to 2011 trade turnover with Germany increased by 2.9 percent up to 4.47 bln US dollars. By comparison, in the year 2000 this ratio comprised approximately one billion dollars. The Republic of Belarus is absolute leader among the CIS countries in the volumes of limit, which was fixed by Germany, of Euler-Hermes surety bonds for export loans in per capita terms.

For six months of 2013 the share of Belarusbank in settlements with Germany comprised 6.9%, and in servicing all the foreign trade turnover of the Republic of Belarus the share of the bank comprised 25%.

Press Service of Belarusbank 

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/ / BELARUSBANK HOLDS AN INTERNATIONAL SEMINAR ON FOREIGN ECONOMIC ACTIVITY (PRESS RELEASE)