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China-Belarus Industrial Park Promotes Business Cooperation between Eurasian and European Countries

Updated:2018-9-11 10:25:06    Source:www.tannet-group.comViews:157

In the eastern suburb of Minsk, capital city of Belarus, stands the China-Belarus industrial park, the largest foreign investment project in the country and an important cooperation project between China and Belarus under the Belt and Road Initiative.

Located right at the juncture between the Eurasian Customs Union and the European Union, Belarus -- the China-Belarus industrial park in particular -- is ready to forge a closer link between the two vigorous markets.

As of now, the rapidly developing industrial park, named Great Stone, is home to 34 resident enterprises, of which 18 are from China. Notable Chinese companies include diesel engine manufacturer Weichai Co., Ltd, telecommunications giant Huawei Technologies Co., Ltd, China Merchant Group Ltd (CMG), among others.

The 34 enterprises so far represent eight countries, China, Belarus, Russia, the United States, Germany, Austria, Lithuania and Israel, making the park a multinational business hub.

Buoyed by the support of the governments of China and Belarus, infrastructure facilities covering 3.5 square km of the park's first phase have been completed, and supporting facilities for the whole of the 8.5-square-km first phase are being built.

The largest project inside the park to date, in terms of construction and investment, is the China-Belarus trade and logistics subpark, whose first phase, in which CMG has invested 141 million U.S. dollars, covers a total area of 100,000 square meters.

The subpark has already signed contracts with European supermarkets to provide storage and logistics services for them. While speeding up the establishment of a bonded logistics area within the industrial park, CMG is also planning to cooperate with Germany's Duisburger Hafen AG to construct a railway directly linking the park with the China-Europe rail lines, which are providing freight services to meet the ever increasing demands of both sides.

Transportation of China Railway Express via Belarus has been growing rapidly. In 2017, over 2,700 freight trains traveled from China to Europe via Belarus.

Given the industrial park's adjacency to the Minsk National Airport -- the international aviation hub of Belarus -- high-tech products produced here can be easily delivered to consumers in the Eurasian Customs Union as well as the European Union.

Belarus views the industrial park as a strategic project that gives hope for the country's future economic development, giving it an unprecedented preferential tax policy.

It is foreseeable that such an important project will be a platform for Chinese enterprises to seek overseas cooperation under the framework the Belt and Road Initiative, he added. (Source: China Daily)

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