India-Belarus trade to reach $1 bn target by 2018

India-Belarus trade to reach $1 bn target by 2018

2017 marks the 25th anniversary of establishing India-Belarus bilateral trade relations.

The Dollar Business Bureau

India-Belarus bilateral trade is likely to reach the $1 billion target by 2018 from the current level of $445 million. President of India Pranab Mukherjee said this while addressing the Parliamentary delegation from Belarus in New Delhi on Wednesday. The delegation was led by Mikhail Myasnikovich, Chairman of the Council of the Republic of National Assembly of Belarus.

The target to reach $1-billion trade by 2018 was set by both the countries during the 7th Inter-Governmental Commission meeting at Minsk in September 2015. The President said that 2017 would mark the 25th anniversary of establishing diplomatic trade relations between India and Belarus. Both countries need to work together to raise the level of India-Belarus bilateral trade and to achieve the target, he said.

The President had earlier met Myasnikovich in November 2012 at New Delhi and during his visit to Belarus in June 2015 at Minsk. He thanked Myasnikovich for his overall support and contribution to elevate the India-Belarus business relations. The President expects that the current visit of the Parliamentary delegation, would further diversify the bilateral trade and economic ties between the two countries.

Responding to this, Myasnikovich said that the people of Belarus as well as the government were touched by the President of India’s visit to their country in June 2015 and are keenly observing the developments after the implementation of the agreements signed in the previous year, he said.