Belarusian enterprises allowed making pre-payments to foreign counterparts

As of May 12^th, 2015, Belarusian companies allowed making advance payments when dealing with non-Eurasian Economic Union companies. Such payment restrictions were introduced in November 2008 and were lifted with regard to Russia and Kazakhstan in March 2011. Lifting of restrictions may increase importers activity on the foreign exchange market and import prices may somewhat reduce due to changes in the payment terms. Meanwhile, imports from Russia will not lose their appeal due to a moratorium on the VAT refund on supplies from non-EEU countries. If loan interest rates continue to reduce, companies may hedge the exchange rate risks with rouble loans. The main risk for importers includes administrative measures aimed at increasing sales of domestic products and creating obstacles for imports to Belarus.