China-Belarus Economic Cooperation PromisingChina-Belarus bilateral trade ties have generally kept a good growth momentum in recent years, statistics show.According to statistics from the Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC), China-Belarus bilateral trade increased by 366.7% in 2000. Despite a temporary decrease from January to May 2001, a MOFTEC official said that the flux, caused by the time tables of some goods transaction, does not reflect the promising momentum of overall bilateral trade. In 2000, the China-Belarus trade volume rose 366.7% to 113 million US dollars, a record high since the establishment of diplomatic ties between the two countries. While China's export volume grew 671.2% to 41,120,000 US dollars in 2000, its import volume from Belarus hit 72,510,000 US dollars with an increase of 250.5%. From January to May 2001, the China-Belarus trade volume reached 19,250,000 US dollars, down 54.2% from the same period last year. While China's export volume to Belarus declined 78.9% to 4,200,000 US dollars, its import volume declined 31.8% to 15,050,000 US dollars. China mainly exports televisions, semiconductors, axletrees, storage batteries, and textile products to Belarus; and imports camions and their equipment, kainite, rolled steels and other mechanical and electronic products from Belarus. The China-Belarus mutual investment and economic and technological cooperation has also started promisingly, the official said. At present, there are 45 Chinese-funded firms registered in Belarus, most of which are small-scale companies or individuals engaging in wholesale, retail and restaurant services. Twelve Belarusian firms are registered in China, involving 15 investment projects totaling 13,190,000 US dollars. One of the most important Sino-Belarussian joint ventures is a large-tonnage cross-country vehicle manufacturer, funded by the China Sanjiang Aerospace Industrial Group and the Minsk large-tonnage cross- country vehicle plant. A truck assembly project in China is also under discussion. An official with the MOFTEC in China noted that the Chinese government attaches great importance to economic and trade cooperation with the Republic of Belarus. In recent years, the frequent high-level mutual visits between the two countries have pushed forward the development of bilateral trade ties, he said. The economic and trade cooperation commission between the two governments was set up in 1994, having held four meetings already. A series of economic and trade documents between the two governments, including agreements on economic and trade cooperation, investment protection, the avoidance of double taxation and the protection of intellectual property rights, have laid a legal foundation for bilateral economic and trade cooperation. |
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