The Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, has confirmed that the United Arab Emirates and the Republic of Belarus have seen a significant improvement in the quality of their businesses. This move is a reflection of the two countries’ strong strategic alliance and shared goal of promoting closer economic cooperation.
On the sidelines of the Minsk International Exhibition Centre’s opening, the minister told the Emirates News Agency (WAM) that the UAE is one of the top three biggest investors in Belarus and that its investments in the country have surpassed USD 4 billion.
According to him, Emirati investments are made in important fields like technology, urban development, hospitality, and defence.
Al Zeyoudi noted that Belarus has substantial experience and competitive advantages in the food and industrial sectors, and that Emirati businesses are becoming more interested in investing in these areas.
Al Zeyoudi stated that recent months have seen the completion of negotiations on a free trade agreement about goods with the Eurasian Economic Union, which is part of the two nations’ ongoing strategic relations.
It is anticipated that Minsk will sign it shortly. A supplemental bilateral agreement on services and investments has been completed, he added, and legal reviews are being conducted in advance of the signing.
He further emphasised how crucial it is to build on this encouraging momentum by strengthening sectoral and institutional cooperation, hosting business councils and delegations, and hosting the joint economic committee’s next meeting later 2025. These initiatives will contribute to the opening of new avenues for collaboration and economic integration between the two parties.
“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,” the minister added.
Al Zeyoudi said that the opening of the International Exhibition Centre, which was funded by Emirati investments and opened today in Minsk, signifies the start of the Northern Waterfront project. It marks the beginning of a bold plan to develop a smart economic city in Belarus with the goals of luring in tourism investments, and advancing the European country’s economy, apart from utilising cutting-edge technologies.
According to him, the project is a reflection of the UAE’s expanding global footprint.