| BUSINESS
AND ECONOMY
Belarus Plans to Finish the Process of the WTO Joining in 2005-2006
Belarus plans to finish the process of WTO joining in 2005-2006, MFA Press Secretary Andrei Savinykh said. "Belarusian economy is on the rise today and that creates favorable background for conclusion of the WTO joining process in 2005-2006", the Press Secretary stated.
Major trade partners of Belarus are not members of the WTO yet but after Russia joins the WTO that situation will be changed and we will be ready for it, Mr.Savinykh noted. As long-term practice shows the organization cannot accept more than two countries in one year. Usually the priority is given to countries with lager economic potential such as Russia or Saudi Arabia which are already candidates for joining the
WTO.
The conditions for joining WTO are very important for Belarusian side. It is essential "what kind of economy regulation instruments will be in the Belarusian Government hands after joining
WTO", - Mr.Savinykh underlined.
American-Belarusian Joint Venture Is Created In FEZ Grodnoinvest
American-Belarusian joint venture PolyUnipack, plastic window-sill producer, became a resident of free economic zone
Grodnoinvest. Free economic zone administration informed that the investment volume of the new resident will exceed $1.2 million. The company plans to spend $100,000 in 2004. PolyUnipack will start serial production in November-December 2005.
PolyUnipack became a FEA Grodnoinvest resident within the framework of the import-replacing program. The company will create 34 jobs. The FEZ administration is getting ready to sign an agreement with Polish EuroPackets
LLC. The company plans to produce argon-filled double-glazed windows. The agreement will be signed in January 2005.
FEZ Grodnoinvest was created on April 16, 2002. Nowadays the FEZ has 23 residents, 19 of which were founded using foreign investments. There are 16 operating resident companies in FEZ
Grodnoinvest. Since the FEZ Grodnoinvest foundation and as of October 1 it has been able to attract $24.5 million in investments. FEZ residents have been able to attract $7 million in investments, including $3.2 million in foreign investments. In January-September 2004 residents of free economic area Grodnoinvest attracted BYR 7.3 billion in fixed capital investments or 350 percent up on the corresponding period of 2003. In January-September FEZ residents produced BYR 28.8 billion of commodities (10 times up) and exported $12.6 million worth of merchandise (200 percent up against the respective last year period). The import totalled $10.4 million (200 percent up).
"Kommunarka" Expands Chocolate Production
OJSC "Kommunarka" (Minsk), the second largest Belarusian confectioner, is expanding the production of milk and bitter chocolate with fillings. In particular, they will start making chocolate with raisings and nuts. For this purpose, the enterprise will re-equip its production line.
"Kommunarka" produces various types of milk, dark and dessert chocolate, 4 kinds of chocolate with fillings and 2 types of candy bars. In 2004 the enterprise made 1.67 thousand tons of chocolate (39% up in a year).
The company exports around 40% of its total production.
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