China is Our Number One Partner in the Asian Region and Beyond

On January 10, deputies ratified an agreement with China on trade in services and investment. The agenda of the meeting also included several other documents that elevate the level of international cooperation to a new stage.

The today's agenda of the House of Representatives includes many international ratifications. These concern countries and markets with which Belarus actively builds trade and economic relations and develops new projects.

For example, last year, there were visits at the government level to countries such as Egypt, Nicaragua, Cuba, and China. The agreement with China, signed in Minsk last year during the visit of Chinese Premier Li Qiang, is significant. It concerns mutual investments and the service sector, including transport services.

Belarus expects an influx of capital into its industries, particularly in the automotive sector. A working group has been created to develop joint projects and make necessary amendments to the agreement.

Yuri Chebotar, Minister of Economy of Belarus, stated that this is the first agreement with so-called "distant arc" countries. China, being Belarus's number one partner in the Asian region and beyond, is crucial for promoting Belarusian services and attracting Chinese investments. The Ministry of Economy estimates that mutual investments will increase by 30%, and the export of services to China will grow by 15% after the agreement's ratification.

The meeting also discussed mutual supply of goods to Egypt and Cuba, including fruits from Cairo and pharmaceuticals from Havana. Belarus is ready to share its engineering technologies and supply food products. The agreement with Cuba, in effect since 2014, requires amendments to become more active. Additionally, the meeting addressed customs assistance for supplies to Nicaragua, following a visit by a government delegation and the signing of an agreement.

Deputies supported the proposal to hold parliamentary hearings on the development of digital law in Belarus, emphasizing the importance of digitalization in all spheres of life.