Germany’s experience in economic reforms is important for Belarus - premier

The experience of Germany in economic reforms and promotion of integration is very important for Belarus, Prime Minister of Belarus Sergei Sidorsky said at a meeting with Klaus Mangold, Chairman of the German Committee on Eastern European Economic Relations, in Minsk on November 16, reported Belta.

According to Sergei Sidorsky, the Committee on Eastern European Economic Relations which was founded in 1952 has played an important role at different stages of the development of integration processes what is important for Belarus. "It is especially important today when the trade between Belarus and Germany has been continuously increasing. Over the nine months 2008 it reached almost $2.7 billion, which meets the level of the entire 2007," the Prime Minister said. Belarus and Germany have good mutual investment what facilitates business development," Sergei Sidorsky said. Over 330 German companies operate in Belarus.

During the global financial crisis it is important that the economies of Belarus and Germany should operate most efficiently, the Prime Minister said. "The talk we have started today will be developed within the framework of joint meetings," Sergei Sidorsky said.

Klaus Mangold thanked the Prime minister of Belarus for the meeting on the weekend. According to him, "though the global financial crisis is picking up, additional opportunities open up before the two countries." The German economy is closely following the developments in Belarus including those in economy. "You have taken considerable steps in terms of privatization. The German economy hopes that important reforms will be implemented within the framework of this privatization process. Investments will follow after that," the German guest noted.

According to him, the countries that have strong manufacturing industry "get a chance for industrial renaissance" after the crisis is over."

Klaus Mangold expressed the confidence that after the crisis is over the manufacturing industry will play a more important role that it did before the crisis.

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