Republic

Prime Minister of Armenia Tigran Sargsyan has arrived in Belarus on an official visit, BelTA learned from the press service of the Belarusian government.

Prime Minister of Belarus Mikhail Myasnikovich and Tigran Sargsyan are set to hold meetings in narrow and extended formats today.

The Prime Minister of Armenia is also expected to visit the High-Tech Park in Belarus.

Trade and economic cooperation between Belarus and Armenia has been increasingly vibrant. The trade has been growing at a fast pace in recent years: from 2001 to 2010 foreign trade increased by more than 16 times (from $2.9 million to $47.2 million) with Belarus’ exports going up 35 times (from $1.2 million to $42.1 million). Yet, Armenia ranks second to last, namely ninth, in the trade of the Republic of Belarus with the CIS countries.

By the end of 2010, bilateral trade totaled $47.2 million, up 66.7% from 2009. Belarusian exports totaled 42.1 million (up 81.2%). Imports amounted to $5.1 million (up 0.4%). Belarus had a $37 million surplus in trade with Armenia.

In Q1 2011 foreign trade between Belarus and Armenia totaled $6.2 million, down 2.8% as compared to the same period last year. In Q1 2011 Belarusian exports amounted to $4.9 million (down 15%). Imports of goods from Armenia came to $1.4 million (up 2 times). Belarus had a trade surplus of $3.5 million

Belarus remains an important trading partner of Armenia, ranking third in import among the CIS (after Russia and Ukraine), and ahead of countries such as Bulgaria, Poland, Romania, Slovakia, Spain.

Belarus’ major exports to Armenia are tires, trucks, tractors, butter, medicines, spare parts for trucks and tractors, fiberboard, plywood, furniture.

The Republic of Armenia supplies the Republic of Belarus with alcoholic beverages, medicines, siliceous earth, canned fruit, polycarboxylic acid.

In 2010 Belarus raised $298,500 of direct investment from Armenia, up 2.2 times from 2009.