Kazakhstan is interested in the privatization of Belarusian assets
The Sovereign Wealth Fund “Samruk-Kazyna” JSC is interested in taking part in the privatization of Belarusian enterprises. The issues of bilateral trade, economic and investment cooperation are due to be discussed within the frameworks of an official visit of Nursultan Nazarbayev, President of the Republic of Kazakhstan, to Minsk on May, 12-14.
At the meeting with Deputy Prime Minister of Belarus Sergei Rumas May 10, the Chairman of the Board of the Sovereign Wealth Fund “Samruk-Kazyna” JSC, Umirzak Shukeyev announced that Kazakhstan is interested to take part in privatization of Belarusian enterprises.
Sergei Rumas invited to consider the possibilities of bilateral cooperation in several areas, including rail and road transport, logistics, industrial cooperation, etc. In particular, Kazakhstan shows deep interest in building a modern terminal in Belarus for the handling and storage of grain before its transportation to Europe. For its part, Belarus is ready to allocate land for the construction of this terminal.
The prospects of mutual economic cooperation will be discussed during the official visit of President of the Republic of Kazakhstan Nursultan Nazarbayev to Minsk on May, 12-14.
According to the National Statistics Committee, the volume of foreign trade between Belarus and Kazakhstan in the first quarter of 2012 increased as compared to the same period the previous year by 45.7% to USD 215 million. In the first quarter of 2012, the net outflow of foreign direct investment of Kazakhstan residents from Belarus amounted to USD 8,000, as compared to a net inflow of USD 206,900 in the first quarter of 2011.
According to Decree No. 221 of June 23rd, 2017, deadlines for the completion of foreign trade operations have been extended from 90 to 180 days for exports and from 60 to 90 days for imports. Delayed payments entailed a fine up to 2% of the transaction cost for each day of the delay, but could not exceed the total cost of the transaction. Most companies, when working with new counterparties, require a deferred payment for a period of three to six months. Due to the new regulation, violations are likely to reduce in number, so as the fines. Trade enterprises are likely to expand the assortment list due to the supply of new products in small lots, and the assortment list of exported Belarusian goods could expand, too. The new terms for completing foreign trade transactions would enable medium and small companies on the foreign trade market, exporters and importers are likely to grow in number and the geography of export-import operations could expand.