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Business Profile
Economy: Despite a paucity of natural resources, Belarus enjoyed a relatively high level of prosperity during the Soviet era compared to other ex-Soviet republics. However, the last 12 years have brought continuous decline. The main agriculture crops are sugar beet, grain and potatoes; livestock breeding is also substantial. The manufacturing industry is focused on the production of agricultural machinery vehicles and chemicals, most of which have been exported in the past. Apart from a few oil and gas deposits, Belarus has no energy reserves and relies on imports, most of which come from the Russian Federation. Like other Soviet republics, Belarus suffered a sharp decline in output and a variety of other problems following the dissolution of the Soviet Union; this was then followed by a period of stabilisation which took hold during the mid-1990s as the Government and people adjusted to new economic circumstances. A new currency, the Belarusian Rouble, was introduced at the beginning of 1995. The Government’s reluctance to implement measures recommended by the IMF, World Bank and the EBRD (which Belarus joined in 1992) meant that the country has, for the most part, been cut off from these sources of finance. The Government has been looking to Arab states, including Syria and Iraq, to build foreign economic links to supplement its existing ones, which rely mainly on the most active members of the Commonwealth of Independent States – the Russian Federation, Kazakhstan and Kyrgyzstan. However, in general, it faces a difficult future in developing its economy.
Business: For business meetings, visitors should dress smartly. English is widely used in management circles and knowledge of German might also be useful. Appointments should be made well in advance and should be confirmed nearer the time. Cards should have a Russian translation on the back. Business transactions are likely to take quite a long time. Office hours: Mon-Fri 0830-1730.
Commercial Information: The following organisation can offer advice: Belarusian Chamber of Commerce and Industry of the Republic of Belarus, Masherava 14, 220035 Minsk (tel: (17) 226 9127; fax: (17) 226 9860; e-mail: mbox@cci.by; website: www.cci.by).
Conferences/Conventions: The 3-star Hotel Yubileynaya offers conference facilities for up to 250 persons, including simultaneous translation services. This facility is operated by Belintourist (see Contact Addresses section). The following organisation can also give information regarding conferences and conventions in Belarus: Ministry of Foreign Affairs, ul Lenina 19, 220030 Minsk (tel: (17) 227 2922; fax: (17) 227 4521; e-mail: mail@mfabelar.gov.by; website: www.mfa.gov.by).
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