Belarus-Iran trade can reach $1bn

The Belarusian-Iranian major project for exploring the oil field Jofeyr should get an additional boost, said Prime Minister of Belarus Sergei Sidorsky as he met with Iranian Commerce Minister Masoud Mir-Kazemi on February 13. The Belarusian head of government was confident that despite the influence of the global crisis efforts in the area will continue. “We hope the project will be implemented,” said Sergei Sidorsky. “It will encourage the development of the bilateral relations in the petrochemical industry”.

Belarus is intent on supporting the high level of the political dialogue established by the two heads of state. Sergei Sidorsky said, he intends to meet with the Ambassador of Iran to Belarus in Minsk every month to discuss joint projects. Belarus believes cooperation with such Iranian companies as Iran Khodro, DiDAS, Keyson is important. “We will monitor these projects for the sake of their successful implementation,” underscored the Prime Minister.

Sergei Sidorsky confirmed relations with Iran are advancing thanks to the implementation of trade and economic projects, support for jobs, investment cooperation.

Belarus and Iran can raise the mutual trade turnover up to $1 billion, said Iranian Commerce Minister Masoud Mir-Kazemi as he met with Prime Minister of Belarus Sergei Sidorsky.

Masoud Mir-Kazemi remarked, Iran is interested in expanding relations with Belarus and pays much attention to the development of trade and economic ties. “We encourage our businessmen to establish relations with friendly countries, including Belarus,” he said. According to the Iranian Commerce Minister, “We are doing our best to raise the level of economic relations to that of political ones, but so far there is a big gap between them”.

Last year Iran’s total trade amounted to $140 billion, with non-oil products accounting for 60% of the figure. Year after year Iran increases its export. Over the last three years the volume is comparable to results achieved in the previous 15 years. Iran aims for vigorous trade with Belarus, underscored the Minister.

In 2008 Belarus-Iran trade made $93.8 million (23.6% up), with Belarus’ export as high as $83.7 million (25.8% up), import — $10.2 million (8.3% up). The foreign trade surplus totalled $73.5 million. The choice of exports to Iran has been diversified with 83 commodities. Belarus’ main exports are potash fertilisers, synthetic fibres, synthetic fibre cords, while the main imports are cars, grape, spare parts for automobiles and tractors.

In 2008 Iranian investments in Belarus amounted to $13.1 million, including $9.9 million in direct investments. In September 2008 the National Bank of the Republic of Belarus registered the country’s first bank with Iranian capital.

At present about 100 Iranian students study at Belarusian universities.