UAE Investments In Belarus Surpass $4 Billion, Strengthening Economic Ties

The United Arab Emirates and Belarus are experiencing a significant boost in their economic ties, with a marked increase in collaboration across various sectors. Dr. Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade, highlighted this progress during the opening of the Minsk International Exhibition Centre. He noted that UAE investments in Belarus have surpassed $4 billion, making the UAE one of Belarus's top three investors.

Al Zeyoudi emphasised that Emirati investments span crucial areas such as defence, technology, hospitality, and urban development. There is also a growing interest from UAE companies in Belarus's food and industrial sectors due to its expertise and competitive strengths. This interest aligns with the strategic partnership between the two countries aimed at fostering stronger economic collaboration.

In recent months, negotiations on a free trade agreement concerning goods with the Eurasian Economic Union have been finalised. The agreement is expected to be signed soon in Minsk. Additionally, a supplementary bilateral agreement on services and investments has been completed, with legal reviews currently underway before signing.

Dr. Al Zeyoudi stressed the importance of building on this positive momentum by enhancing institutional and sectoral cooperation. Efforts include organising business delegations and councils and holding the next session of the joint economic committee later this year. These initiatives aim to open new horizons for partnership and economic integration between both nations.

There is a focus on exploring opportunities in food and industrial sectors due to Belarus’s advanced production infrastructure and skilled workforce. This enhances prospects for integration into new economy sectors. "There is a focus on exploring new opportunities in the food and industrial sectors, given Belarus’s advanced production infrastructure and skilled workforce, which enhances prospects for integration in new economy sectors," said Al Zeyoudi.

The inauguration of the International Exhibition Centre in Minsk marks an important milestone in UAE-Belarus relations. The centre's opening represents the first phase of the Northern Waterfront project, which aims to develop a smart economic city in Belarus. This ambitious plan seeks to attract investments in tourism, boost the economy, and integrate modern technologies.

UAE's Growing Presence

The Northern Waterfront project reflects the growing presence of UAE investments in international markets. "It represents the launch of an ambitious plan to build a smart economic city in Belarus, aiming to attract investments in tourism, boost the economy, and modern technologies. The project reflects the growing UAE presence in international markets," stated Al Zeyoudi.

This development underscores both nations' commitment to strengthening their strategic partnership through increased economic collaboration across diverse industries.

With inputs from WAM