The Chambers of Commerce and Industry of the Tavush region, Armenia, and of the Vitebsk region, Belarus, signed a cooperation agreement in Yerevan.
Following the signing ceremony, Armenian and Belarussian businessmen pointed out great potential for economic cooperation despite a steady decrease in Armenian-Belarussian trade over recent years. To curb this negative tendency, Armenian and Belarussian businessmen decided to establish joint ventures. Specifically, the sides agreed on the import of dairy and meat products from Vitebsk though Armenia already imports eight dairy product items and four meat product items from Vitebsk.
Belarussian businessmen took interest in Armenian experience in producing mineral water, liqueurs and vodka, as well as stone-working.
Armenia and Belarus reached an agreement on establishing accumulator production, with the devices to be exported to Belarus. Joint ventures producing building materials will be established as well. The sides reached an agreement on tractor assembly at the Vanadzor-based Chinvan plant, using spare parts from Belarus. Later, the spare parts will be produced in Armenia.
Armenia's exports to Belarus comprise ethyl alcohol, medicines, jewelry, stones, cement, equipment, as well as fruits - apricot, cherries, peaches, etc..
Armenia imports dairy products, medicines, chocolate, excavators, timber, furniture etc.. Armenia's imports from Belarus have already reached U.S. $19,864,800.