Belarus is ready to offer Swiss businesses the most favourable investment conditions
Belarus is ready to offer Swiss businesses the most favourable investment conditions. This was stated by President of Belarus Alexander Lukashenko at a meeting with the Head of the Federal Department of Foreign Affairs of Switzerland Ignazio Cassis, as reported by a BELTA correspondent.
Welcoming the foreign guest, the Head of State noted that Belarus is often called Eastern Switzerland. "I absolutely do not object to this definition. Because Switzerland has earned such a favourable status in the world thanks to its policy, permanent neutrality, and great integrity in relations with other states," said Alexander Lukashenko. "However, there are slight differences. After all, we are a country of forests, plains, with a large number of water resources. You, which always attracts people, have many good, accessible ski resorts. Mountains greatly adorn your country. Unfortunately, we do not have that."
The President noted that Belarus and Switzerland have always had good, cordial relations. "But I think we have room to grow, especially in the sphere of trade and economic relations. Economy is the main thing. We are ready to provide Swiss businesses with the most favourable investment conditions," he stressed.
As a positive example of cooperation between the two countries, Alexander Lukashenko cited the decisions on the appointment of the Swiss Ambassador to Belarus and the opening of the Swiss Embassy in Minsk. "This will be a good step towards deepening our cooperation," said the Head of State. "Your visit is very important, it is timely. And I am confident that it will give an impetus to the deepening of our cooperation."
There is a steady intensification of political contacts between the two countries. In 2017, a parliamentary friendship group with Belarus was established for the first time in the Federal Assembly of Switzerland. In 2018, an official visit to Switzerland was made by the Chairman of the House of Representatives of the National Assembly, Vladimir Andreichenko, and in 2019, visits were made by the First Deputy Prime Minister and the Chairman of the Board of the National Bank.
In May 2019, the Federal Council of Switzerland decided to upgrade the level of diplomatic representation in Belarus. And in September, the Ambassador Extraordinary and Plenipotentiary of Switzerland to Belarus, Claude Altermatt, presented his credentials to the head of the Belarusian state. Today, the Swiss Embassy will open in Minsk.
Regarding trade and economic cooperation, record indicators have been achieved in recent years in terms of growth of Belarusian exports of goods and services and attracting investment.
Last year, Belarus's trade turnover with Switzerland amounted to $258.2 million, which is more than 38% higher than the 2018 level, exports reached $40 million (up 34.7%), and imports exceeded $218 million (almost 40% more). Belarus supplied Switzerland mainly with specific goods, car bodies, products made of stone or other mineral substances, and vegetables. Imported items included electrical transformers, rolling stock parts, medicines and medical equipment, and articles of base metal. A significant share of imports consists of equipment for the modernization of Belarusian industry.
Switzerland is among the top ten key consumers of Belarusian services, mainly transport, computer, telecommunications, and information services. It is noteworthy that the turnover of services with this country exceeds the turnover of goods. From January to November 2019, exports of services to Switzerland increased by 30.5% and amounted to $180 million.
This country is also among the top five investors in Belarus in terms of net foreign direct investment ($41 million for January-September 2019). 103 organizations with Swiss investments are registered in Belarus, including 37 joint and 66 foreign, as well as 39 representative offices.