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Belarus PM sees huge potential in boosting ties with China

23 May 2012 00:12 (UTC +04:00)

Baku-APA. Belarusian Prime Minister Mikhail Myasnikovich said on Tuesday that Belarus and China have great potential in boosting the mutually beneficial trade and economic cooperation, APA reports quoting Xinhua.

"The reserves are huge and far from being depleted, primarily thanks to manufacturing cooperation and concentration on priority areas," Myasnikovich said while meeting with Lu Yongxiang, vice- chairman of the Standing Committee of the National People’s Congress of China, here in Minsk.

According to Myasnikovich, Belarus and China, as strategic partners, have been building their cooperation wisely, respecting each other and treating bilateral ties in a long term view, and the annual turnover of 3.5 billion U.S. dollars is a good indicator.

Myasnikovich said trade and economic cooperation between the two countries is complemented by investment, with projects worth a total of 16 billion U.S. dollars.

Lu Yongxiang commended the great success in bilateral relations, saying "It is important that the two sides always look at bilateral relations from the strategic point of view, guided by principles of mutual respect, equality, and mutually beneficial cooperation."

China is Belarus’ second largest import partner and the seventh export partner. In 2011, trade between the two countries went up 31 percent year on year to 3 billion U.S. dollars. Since 2009, China has provided the Belarusian government with 2 billion U.S. dollars’ worth of soft loans, making it possible for projects like road and housing construction, communications, power engineering, chemical industry and space, to be carried out.