Belarus continues to strengthen trade and economic cooperation with the European Union
Amid a summer lull in political interactions, Belarus and some EU states and EU bodies continue to enhance practical economic cooperation.
On August 21st, 2018, Ambassador Extraordinary and Plenipotentiary of Belarus to Romania Andrei Grinkevich held talks with Romanian Energy Minister Anton Anton. Grinkevich spoke about what Belarusian enterprises have to offer in terms of export of energy equipment, materials and services on designing and operating energy facilities.
According to the Belarusian Foreign Ministry, the parties also discussed concrete joint steps in the energy sector, including cooperation on hydrocarbon and renewable energy sources, as well as the implementation of energy infrastructure modernization projects in Romania and in third countries with the participation of Belarusian and Romanian companies. In addition, the parties outlined their interest in exchanging experience in the nuclear energy field.
On August 24th, media reported that the European Bank for Reconstruction and Development would buy a stake in Servolux Capital LTD, the managing company of a large private Belarusian agricultural holding company, for EUR 10 million. The funds raised would be further invested in projects focusing on developing Servolux production in Smolevichi, in particular, the construction of a power plant with the capacity of 6.58 megawatts and a meat processing workshop with a capacity of 70 tons per day. The whole project was estimated at 13 million euros.
The long-standing trend, according to which Belarus focuses on developing trade and economic relations with the West, persisted. Belarus also seeks to extend bilateral cooperation with some EU member states, rather than focusing exclusively on Brussels.