Russian expert helps integrate the Belarusian economy into global trade
In Belarus, the number of exported products has been rising steadily in recent years, but infrastructure, connectivity and building productive and export capacities will be essential to leverage this potential. For the smooth integration of the Belarusian economy into the global trade space and access to new markets, a multilateral analysis of the economic system and conditions in which Belarusian business today operates is required.
To support Belarus efforts of trade integration the Russian expert, Head of the International Trade Laboratory, Director of the Institute of International Economics and Finance of the All-Russian Academy of Foreign Trade conducted a comprehensive analysis reflecting the current position of Belarus in the international trade and among partners in the EAEU with the focus on competitive advantages of Belarus. The expert also shared best practices for building productive export capacities of Belarusian businesses and joint ventures.
The analysis showed that manufacturers from Russia, Ukraine, Kazakhstan, and the Baltic countries are among Belarus' main competitors due to the process of technology transfer between geographically close countries, which took place during both Soviet and post-Soviet times. In connection with that, a risk exists that Belarusian goods could be displaced from their usual markets. Therefore, Belarusian exporters need not only product diversification but also geographical diversification. In order to achieve it, the Belarusian manufacturers should form alliances with stronger exporters, through which companies from Belarus can count on a technological upgrade of their production and increase the competitiveness of their goods. Such alliances should be based on an industrial policy which objective will be to increase the stock of know-how in the country.
The analysis was made possible thanks to the Knowledge Management and Capacity Building in the UNDP-Russia Partnership project.