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System of Export Support
The national system designed to support exports financially was formed through the insurance mechanisms of export lending and export risks with governmental support based on international practices. The main law in this area is Decree of the President of the Republic of Belarus No. 534 of 25 August 2006 “On the promotion of export of goods (services)”.
Export loans may be granted by any bank of Belarus. The company may be reimbursed by the government, given that the loan is insured by the National Export-Import Insurance Company “Beleximgarant”. The decision to reimburse shall be taken by the Council of Ministers.
In order to promote the international cooperation and investment activities of Belarusian exporters Presidential Decree No. 3 was passed on January 3, 2011 on Amendments to the Decree of the President of the Republic of Belarus No. 534 of 25 August 2006. It provides exports lending opportunities for joint ventures and assembly facilities abroad.
In 2010, Belarusian exporters massively used these mechanisms. The Government reimbursed interests on USD 127m-worth preferential loans to the banks (1.6 times more than in 2009).
There is a positive growth in the insurance of export risks with governmental support. In 2010 “Beleximgarant” signed 3107 contracts to insure export risks (1.3 times more than in 2009). The total amount of insurance coverage resulting from the signed contracts reached 914.6bn rubles (1.3 times more than in 2009). More than 35 percent of insurance coverage accounted for the countries with high level of country risk according to the OECD ranking (Groups 6-7).
In conjunction with Russian banks there is a mechanism of promoting Belarusian products to Russian market by way of Decree of the President of the Republic No. 466 “About some measures on the sale of goods, produced in the Republic of Belarus”. This mechanism reimburses interests on preferential loans to Russian companies extended to purchase Belarus-made goods.
To implement this decision an agreement was signed between the Government of the Republic of Belarus and the Savings Bank of the Russian Federation (Joint-stock Commercial Bank “Sberbank of Russia”) on the conditions of granting credits for the purchase of Belarusian goods in the Russian Federation. A similar contract with Joint-Stock Commercial Bank “Moscow Industrial Bank” is set to be signed. The other major Russian banks show interest in lending consumers of the Belarusian machinery.
“Sberbank of Russia” signed 494 loan agreements on supplies of Belarusian machinery.
An important financial mechanism of export support such as international leasing was used more actively in 2010. JSC “Promagroleasing” established 4 subsidiary leasing companies (three in Russia and one joint venture in the Czech Republic). 424 units of Belarusian machinery were exported to the amount of USD15.4m.
To provide sophisticated advice and marketing support of foreign economic activities of the Belarusian enterprises the National Center for Marketing and Price Study established contacts with foreign partners to organize the information exchange.
The subscribers of information system “Tenders” include 7,562 organizations, including 222 foreign companies. In 2010 “Tenders” contained information about the exercise of 365,828 tenders abroad: almost 300 thousand in the CIS countries (including more than 177 thousand in Russia) and more than 65 thousand in non-CIS countries.
The National Center for Marketing and Price Study established the national portal of information support of export Export.BY. Portal is a free virtual complex of export opportunities covering more than 4,000 Belarusian enterprises and more than 10,000 electronic exhibitions of goods and services, as well as more than 800 distribution network facilities.
To raise awareness in marketing professionals and legal staff employed by Belarusian exporters, the National Center for Marketing and Price Study organized more than 100 seminars in 2010, involving more than 3,000 participants.
