NCM on Prospects for Promotion of Belarusian Goods and Services in Latin America

The region of Latin America and the Caribbean is interesting for Belarus as an important platform for integration into world trade and economic relations. The economies of Belarus and the leading countries of this region structurally complement each other. According to the UNCTAD/WTO International Trade Center, last year the total volume of Latin American and Caribbean imports from Belarus amounted to $715.5 million, an increase of 3.5% compared to 2020. The commodity range of Belarusian exports to this region includes potash fertilizers, means of land transport, ferrous metal products, chemical and petrochemical products, instruments and optical devices, and dairy products. A BelTA correspondent was told about the prospects for promotion of Belarusian goods and services in Latin America at the National Marketing Center.

The Brazilian market is of great interest to Belarusian business entities, in particular the machine-building and chemical industries. This is due to the constantly growing needs of Brazil in agricultural and other equipment, fertilizers, tires and other goods produced by Belarusian enterprises. "In 2021, the volume of bilateral trade amounted to $782.9 million (a growth rate of 108.9%), exports - $585.1 million (a growth rate of 108.3%). The following commodity items have significant potential in the context of increasing supplies to the Brazilian market: cord materials (threads and fabrics) for the production of car tires, beer malt and electric vehicles," the center noted.

Argentina is a significant trade and economic partner for Belarus. "Over the past year, the trade turnover between Belarus and Argentina amounted to $136.8 million (141.6% compared to 2020), including Belarusian exports of $14.8 million (an increase of 18.9 times). Promising areas of trade and economic cooperation with This country can be called the organization of supplies of Belarusian complex technical products: agricultural and logging equipment, forage harvesters (and grain harvesters), mining dump trucks, passenger auto and electric transport,” the NCM said.

Belarusian enterprises are gradually mastering the Colombian market. "In 2021, the trade turnover between Belarus and Colombia amounted to $90 million, Belarusian exports amounted to $80 million. The main EXPORT item is potash fertilizers. The new commodity items of Belarusian exports that may be in demand on the Colombian market include agricultural machinery, buses, food products. The it sector can become a separate promising area of ​​bilateral cooperation," the institution noted.

Belarus and the Republic of Cuba are actively increasing their trade turnover and are working on new joint projects in the trade and economic sphere. "Bilateral trade turnover last year amounted to $22.9 million (an increase of 3.4 times by 2020), exports - $20.8 million (an increase of 3.8 times). The main positions of Belarusian exports were tractors and truck tractors, MILKand condensed and dry cream, parts for receiving and transmitting equipment, parts and accessories for cars and tractors, instruments and devices used in medicine, reciprocating internal combustion engines, the center said. - Cuba is interested in increasing the supply of Belarusian agricultural machinery, dairy and MEAT products to its market. The supply of medicines and medical equipment may also become a promising direction for Belarusian exports."

Despite the fact that in recent years the mutual trade between Belarus and Venezuela has remained small, the two countries have points of interaction for intensifying trade and economic relations. "In 2021, Belarusian goods worth $1.9 million were delivered to Venezuela, an increase of 82.3%. At the same time, there is a significant commodity diversification of exports - 22 commodity groups (in 2020 - seven). Among the most promising commodity positions of Belarusian exports in terms of Deliveries to Venezuela include condensed and dry milk and cream, printed books, brochures, pipes, tubes, hoses and fittings made of plastic, whey," the NCM stated.

The National Marketing Center pays attention to the development of contacts with the countries of the Latin American region. "In particular, on June 16, the business potential of Belarus was presented to Venezuelan businessmen interested in entering our market. The event was attended by more than 60 business representatives. As a follow-up to the agreements between the leadership of the center and the Bank for Foreign Trade of Venezuela, a Belarusian-Venezuelan business forum is planned to be held in MINSK by the end of the year. ", the agency said.

In addition, on Tuesday, June 28, the center, together with the Belarusian Foreign Ministry, will hold a Belarusian-Latin American forum in Moscow. The purpose of the event is the presentation of the Belarusian export potential, the establishment of professional contacts and an open exchange of views on the progress and prospects of trade and economic cooperation between Belarus and Latin American countries. The heads of 13 embassies of Latin American countries accredited in Belarus will take part in the forum. The program of the event includes speeches by the leadership of the Belarusian Foreign Ministry, the National Marketing Center, the Belneftekhim concern, the Belpharmprom holding, representatives of the Ministry of Industry and a number of key export-producing enterprises of the country.

BELTA.