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Profile: Belarusbank
03 January 2012
Belarusbank: a crucial role in the servicing of trade in Belarus
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Belarus is located in the centre of Europe. Historical connections as well as the peculiarities of the industrial development of the country determined an economic policy that places great emphasis on foreign trade.
Being an export-oriented country, Belarus concentrates its efforts on industrial modernisation, improving energy efficiency, and increasingly its marketability. Policies linked to economic growth and scientific and technological development, created positive growth in the volume of goods traded in the past decade. Belarus’ major export goods are oil products, potash and nitrogen fertilizers, rolled steel, metal cord, trucks, tractors, chemical fibers and yarns, caprolactam, tires, furniture, refrigerators and freezers, wood products, clothing, shoes, dairy and meat products, and sugar.
Belarus imports, mainly, energy resources (oil and oil products, natural and liquefied gas, electricity), raw materials, components and high end production equipment. Traditionally, the Russian Federation is a major trade partner of the Republic of Belarus. The European Union...
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