China to encourage its hi-tech companies to join China-Belarus Industrial Park

China will encourage Chinese hi-tech companies to join the Chinese-Belarusian Industrial Park. The decision is laid down in the Belarusian-Chinese joint declaration on further development and strengthening of all-round strategic partnership that President of Belarus Alexander Lukashenko and China President Xi Jinping signed in Minsk on 10 May, BelTA informs.

“The parties agree that the Chinese-Belarusian Industrial Park is a strategic project that meets the interests of the two countries. The parties have been developing an example of a large-scale project of bilateral cooperation,” the document says.

Belarus and China agreed to conduct close coordination, strengthen the responsibility of companies as economic entities and promote planning, infrastructure construction, financing and attraction of resident companies of the park.

“China will provide support to its strong manufacturing and high-tech companies with the joining to the Chinese-Belarusian Industrial Park as its resident companies, and will encourage Chinese companies to invest in innovation projects and set up hi-tech companies in the park. Belarus provides park residents with preferences and creates a favorable climate for their activity,” the joint declaration runs.

The parties also confirmed that Belarus is an important transport and logistics information and communication element of the Silk Road Economic Belt and that the Chinese-Belarusian Industrial Park is one of the crucial projects of the Silk Road Economic Belt in the Eurasian region.

Apart from that, the joint declaration also reads about the development of trade, economic, credit and investment cooperation, promotion of entrepreneurship, strengthening of cooperation in infrastructure construction, mechanical engineering, building materials, transport, telecommunication, energy, chemical and pharmaceutical industries, biotechnologies, new materials, electronics and microelectronics, production of mineral resources, modernization of companies and other areas.