State support for exports
The Republic of Belarus has established the necessary legal and institutional basis for exports support system. Among the analogues of foreign institutions of support provided to exporters there have been operated the Belarusian Republican Unitary Enterprise of Export-Import Insurance «Eximgarant of Belarus», OJSC «Promagroleasing», Information Republican Unitary Enterprise «National Centre for Marketing and Price Study», Belarusian Chamber of Commerce and Industry, intergovernmental commissions (committees, councils), the councils of business cooperation with foreign countries.
The Decree of the President of the Republic of Belarus No.534 of August 25, 2006 «On the promotion of exports of goods (works, services)» is a fundamental document in the sphere of export crediting and export risks insurance.
The Decree of the President of the Republic of Belarus No.45 of January 24, 2013 «On Amendments and Additions to the Decree of the President of the Republic of Belarus No. 261 of July 21, 2011» JSC «The Development Bank of the Republic of Belarus» is granted the right to provide export credits of at least one million dollars on conditions, determined by Decree No.534:
- to residents for the aquisition of ownership of goods for transfer to international leasing;
- to non-residents for the aquisition of goods from Belarusian organizations.
Export risk insurance with State support is carried out by the authorized company «Eximgarant of Belarus». Insurance recoveries for such risks are made by using funds, provided for these purposes by the republican budget, if needed.
The application of the mechanism of Decree No.534 grants the right to exercise factoring operations. Banks and nonbank financial institutions (factors) are able to finance exporting residents of the Republic of Belarus under cession conditions with determined discount.
Within the frameworks of the Decree of the President of the Republic of Belarus No.466 of September 24, 2009 «On some arrangements for sales of goods, produced in the Republic of Belarus» a stimulation mechanism of Russian consumers of Belarusian products continues to be implemented, involving resources and client base of foreign banks.
For the purpose of complex information and marketing support of foreign-economic activities of Belarusian companies and organizations IRUE «National Centre for Marketing and Price Study» ensures the representation of the export potential of Belarus on the Internet and international information and trade networks. Thus the Portal Export.by was created to become a complex virtual exhibition of Belarusian business entities.
Since 2004 the republican state governing bodies have carried out purposeful work on formation and development of a commodity distribution network (CDN) of the subordinated organizations abroad, and enhancing its efficiency.
The Ministry of Foreign Affairs has been assigned to coordinate the CDN development since July 1, 2013. It renders assistance to the Belarusian enterprises and the organizations in this work through a system of foreign institutions of the Republic of Belarus.
The newly revised Regulations on a commodity distribution network of Belarusian organizations abroad are approved by the Resolution of Council of Ministers of the Republic of Belarus No.1137 of December 24, 2013.