Aug 22, 2024, 12:00 AM
Aug 22, 2024, 12:00 AM

Belarus and China to sign free trade deal

Highlights
  • Belarus and China are set to sign a free trade deal for services and investment.
  • Belarus, facing Western sanctions over its support for Russia, seeks to strengthen economic ties with China.
  • The trade agreement marks a significant development in the economic relations between the two countries.
Story

Belarus announced on August 22 that it will sign a free trade agreement with China focused on services and investment, as the country faces ongoing Western sanctions due to its support for Russia's military actions in Ukraine. The announcement came during a visit from Chinese Prime Minister Li Qiang, who met with Belarusian President Alexander Lukashenko. This visit followed Li's discussions in Moscow, where he emphasized the strengthening of ties with Russia. The Belarusian presidency highlighted that the agreement, described by Lukashenko as "historic," aims to establish a free trade zone that will create "transparent and predictable rules." The deal is projected to increase Belarusian exports to China by at least 12% and boost Chinese investment in Belarus by 30% over the next five years. This partnership is seen as a strategic move for Belarus, which has been heavily reliant on economic support from Russia amid international isolation. Both Belarus and China have faced criticism for their roles in supporting Russia's military operations in Ukraine. The new trade agreement is part of China's broader strategy to expand its influence across Eurasia through significant infrastructure and financial initiatives, raising concerns in the West about the growing collaboration between these nations. Lukashenko expressed a desire for a substantial influx of Chinese technology into Belarus, indicating a commitment to deepening economic ties. This development underscores the shifting geopolitical landscape as Belarus seeks to strengthen its economic position while navigating the challenges posed by Western sanctions.

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