OREANDA-NEWS. March 30, 2010. Belarus is interested in joint investment projects with US companies, Prime Minister of Belarus Sergei Sidorsky said as he met with top executives of major US companies on 30 March.

“I met some of you at the economic forum in London, then we met in Minsk. I am ready to uphold your projects in our country,” Sergei Sidorsky told the businessmen.

The Prime Minister emphasized that Belarus can offer favorable investment conditions for doing business, moreover, the country is ready to grant additional preferences to some companies. “We give a special focus to each investment project. We will do our utmost to help your projects succeed in our country,” the Premier underlined. He added that the Business Cooperation Council is established to help achieve this goal.

According to Sergei Sidorsky, now the countries are on the right track mending political relations through economic cooperation. Up to some time in the past, Belarus had vigorously cooperated with US companies. The trade was rather high (about USD 700 million). “We made not only short-term, but also long-term plans about economic cooperation. But, unfortunately, the economic cooperation between Belarus and US companies was interrupted for political reasons,” the Belarusian head of government said. He reminded that “several Belarusian major companies were stopped at the US border and prevented from entering the US market for some time.”

The Prime Minister assured that the Government of Belarus has always been impartial to the issues of US-Belarus relations. “We sent signals to our enterprises not to break links they had with US companies. It is particularly true for the cooperation in the IT, petrochemical and chemical technologies. We have always maintained contacts with US companies and I am pleased that US companies also have respect for the Belarusian economy,” Sergei Sidorsky said. This is proved by the fact that at present over 300 joint and foreign companies with US capital are operating in Belarus.

The Premier told top executives of the major US companies about Belarus’ achievements in machine building, IT, nano- and biotechnologies, space and other fields. “Naturally, we need new investments,” he said.

American businessmen praise positive changes in the investment climate of Belarus, David Baron, shareholder at the Greenberg Traurig law firm, said during a meeting between Prime Minister of Belarus Sergei Sidorsky and top executives of several major United Stated companies.

“I have attended Belarusian investment forums. It is obvious that the investment climate and legislation have been upgraded recently,” said David Baron.

He added that the meeting of top executives of several major USA companies with President of Belarus Alexander Lukashenko on 29 March “proves that it is a historic moment for the renewal of relations between the two countries.”

David Baron thanked Sergei Sidorsky for the meeting and opportunity to discuss the cooperation prospects. The meeting will result in new US investments in Belarus, said the American businessman.

“It is high time that the export of Belarusian goods to the US market were restored,” said David Baron.

The United States is Belarus’ leading investor topped by Russia and Lithuania in the number of joint ventures and foreign companies in Belarus (over 300). Such United Stated companies as Coca-Cola, and McDonalds and some others have invested heavily in such companies as Spartak, Mogilev Steel Works and Beldentko.

In 2009 Belarus attracted USD 54 million of the United States investments, including USD 35 million of direct ones. At the moment the Belarusian companies are expanding the investment cooperation with the US vehicle components manufactures (Navistar, Arvin Meritor), and Caterpillar.