Belarus with 9.5 million inhabitants is situated in the centre of Eastern Europe, and has international borders with five countries: Russia, Ukraine, Poland, Lithuania, Latvia. The capital and the biggest city is Minsk. The economy of Belarus is based on state-owned big enterprises and numerous private companies.
Belarus has a well-developed industrial sector, which accounts for around 27% of the country’s GDP (2016). Some of its main industries are:
- tractors and agricultural equipment (Belarusian tractors are well regarded throughout the region)
- automotive industry (including dump trucks and earth movers)
- electrical equipment and household appliances
The most famous Belarusian brands include heavy-machinery giants, top-notch chemical enterprises, innovative IT companies, clothing and footwear producers, manufacturers of high-quality foodstuffs…
A Belarusian enterprise Belaruskali is one of the world’s biggest producers and exporters of potash fertilizers. Minsk Automobile Plant (MAZ trademark) produces world-class trucks, truck tractors, and chassis that are well-known far beyond Belarus. The company’s highly reliable trucks take part in prestigious rallies like the Dakar race marathon. One in three of the dump trucks produced globally is manufactured by Belarusian Autoworks (BelAZ).
The business environment is strong, and with a large focus on the industrial sector there is a wealth of opportunity for investment. Belorussian market provides many opportunities for advanced Finnish companies, especially for manufacturers of industrial components.
Belarus is a member of Euro-Asian Economic Union, which includes also Russia, Kazakhstan, Armenia and Kyrgyzstan. It means that the production certificate obtained for one of those countries is valid for all them.