Myasnikovich invites Indian private sector to invest in Belarus
The visiting Belarus Prime Minister, Dr. Mikhail Myasnikovich, on Wednesday invited India's private sector to invest in his country with specific focus on the fertiliser and pharmaceutical industries.
Myasnikovich was addressing a meeting hosted by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) after opening the pavilion of Belarus at the India International Trade Fair-2012 (IITF which he inaugurated jointly with President Pranab Mukherjee. Dr. Myasnikovich said: "We invite Indian business to invest in Belarus. The priority projects will receive the benefits for the period of the payback of the investment. It was rightly mentioned and indicated that one of the priorities is the area of pharmaceuticals. We have a growing market, with annual trade turnover of 700 million dollars."
Minister of State for Commerce and Industry, D. Purandeswari, who was also present at the business meet, highlighted the increasing bilateral trade between India and Belarus.
"The total bilateral trade between India and Belarus for the years 2009-10, 2010-11 and 2011-12 had been 470 million dollar, 240.6 million dollar and 289.2 million dollar, respectively. Whereas it was around 163.1 million dollar for the period between April and September of 2012," she said.
Purandeswari also stressed the need for a long-term arrangement with Belarus for the import of potash fertilisers.
"Belarus has already earned a reputation for herself as one of the major suppliers of potash fertilisers. India is certainly interested in long-term off-take, besides her interest in investing in the potash sector in Belarus," she added.