Business | Belarus - Expat Reporter

A French Businessman Buy Apple Orchards: “In France, such land costs 100 times more”

In early May, several apple orchards located in the Pastavy District were sold to a lone applicant for 4,000 Rubles (around 2,500 Euros). The new owner of the apple orchards, which were previously owned by the government, was not a local, but an unknown French businessman.

The United States is among the top 10 major trading partners of Belarus

Susan Holmes

Following the results of the first quarter 2020 in mutual trade in the goods America has ousted Kazakhstan and has left Turkey behind. Besides, USA became the only country with positive dynamics of commodity turnover. One more important news: for the first time in history China, not Russia, became the main source of the Belarusian negative balance.

Will Belarus be able to buy American oil?

Ron Mitchell

Information about the intention of the Belarusian Oil Company (BOC, special exporter of Belarusian oil products) to purchase American oil has caused a storm of emotions in the media environment. However, there is no sensation in this news.

The Belarusian ruble exchange rate has collapsed by almost 4%. What was that?

Ron Mitchell

Devaluation of the Belarusian ruble, which occurred in late August – early September, is likely to be caused by the actions of the National Bank and commercial banks, which decided to weaken the Belarusian currency in order to support exports. Could it happen again?

World Bank warns about recession in Belarus if Minsk fails to secure energy deal with Russia

Ron Mitchell

The World Bank revised Belarus’ growth down from 2.7% year-on-year to 2.2% y/y in 2019, from 2.5% y/y to 2.4% y/y in 2020 if Russia pays no tax maneuver compensation

S&P Global Affirms Belarus ‘B/B’ Rating as Economy Continues to Grow

Ron Mitchell

Standard & Poor’s (S&P), the world’s leading index provider and the foremost source of independent credit ratings, has published a new report for Belarus which forecasts that Belarus’ economy will grow by close to 2 percent in 2018.

Sergey Rumas, the prime minister of Belarus on Crossway18 forum in Minsk

BelarusCrossway’18 International Business Forum was held in Minsk

Susan Holmes

On November 29, 2018, the first international economic and investment forum “Crossroads of Belarus: Opportunities-Ideas-Innovations-Aspirations” (BelarusCrossway’18) was held in Minsk under the patronage of the Development Bank.

Rethmann-Gruppe Expands Business in Belarus

Michael Pike

In an effort to expand its operations in Belarus, SARIA, a subsidiary of the Rethmann-Gruppe, has filed a proposal to acquire privately-held shares of the Belynichskiy Protein Plant. If successful, the German company, which will produce bone flour and technical fats from organic raw materials derived from chickens, may also seek to acquire the state share of the Belynichskiy plant.

Belavia and AZAL Sign Agreement for Joint Operations

Susan Holmes

In October 2018, JSC Belavia and Azerbaijan Airlines (AZAL) signed a bilateral agreement for joint operations between the airlines (code-sharing) for Minsk-Baku beginning October 28, 2018. With the transition to the winter schedule, Belavia Airlines will increase its frequency of flights to Baku to four times per week.

Stadler Belarus Builds New Workshops, Increases Staff

Ron Mitchell

The manufacturer of trains and trams, Stadler Minsk, has begun construction on new buildings at its site in Fanipol. The capacity of the enterprise will double, and the number of its employees will increase by approximately 280 people. The company plans to double its capacity to three hundred cars per year.