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Trade and economic cooperation

Since 2017, after a resumption of bilateral cooperation, trade and economic cooperation between Belarus and Canada has been gradually intensifying.

Foreign Trade between Belarus and Canada

 

2015

2016

2017

2018

2019

2020

2020/2019
in %

Trade turnover ($, million)

30,6

73,2

60,4

47,5

43,7

48,0

109,8

Exports ($, million)

11,1

53,7

13,3

22,3

16,1

19,1

118,6

Imports ($, million)

19,5

19,5

47,1

25,2

27,6

28,9

104,7

The total volume of Belarusian exports to Canada in 2020 amounted to 19.1 million USD. The trade balance was negative and amounted to 9.8 million USD.

Belarus’s exports to Canada include furniture, plywood, potash and mineral fertilizers, devices on liquid metals, fiberglass.

Canadian imports to Belarus amounted to 28.9 million USD in 2020. Canada is a supplier of frozen fish, spirits, medical equipment, and medicines.

In 2020, exports of services to Canada amounted to 27.2 million USD (135.1 % compared to 2019), imports – 12.6 million USD (126.3 % compared to 2019). Exports included computer, telecommunications, information and transport services.

Canada's foreign investment to Belarus in 2020 made up 10.3 million USD, including $4.4 million of direct investment, of which $3.0 million was direct investment on a net basis.

In 2019, Canada's foreign investment to Belarus made up $7.6 million.

Belarus and Canada seek to promote bilateral trade. Thus, the First Belarus-Canadian Business Forum was held in Minsk on September 27, 2018, with the assistance of the Belarusian Chamber of Commerce and Industry and the Canadian Eurasia Russia Business Association (CERBA).

In 2019-2020, the Embassy launched a series of events promoting cooperation with the Republic of Belarus, as well as dacilitating direct contacts between producers of export-oriented products. Among them:

♦ Charge d'Affaires, a.i. of Belarus in Canada Evgeny Russak made a presentation of the Republic of Belarus at the Conference “Eurasian economic Union: Opportunities for Cooperation”, held in October 2019 in Montreal;

♦ a representative of the diplomatic mission addressed the participants of the International Conference on Construction and Infrastructure held in December 2019 in Toronto within Construct Canada 2019;

♦ in February 2020, the Embassy made a presentation of the export potential for business community of British Columbia at the Vancouver Club;

♦ in March 2020, a representative of the Embassy addressed representatives of the International Mining Conference as part of PDAC-2020 in Toronto;

♦ in March 2020, a video Conference on cooperation between the Republic of Belarus and Canada in agriculture was arranged;

♦ in April 2020, the Embassy together with Belarusian enterprises took part in a webinar on promoting exports to Canada. The event was organized by CERBA and focused on promotion of products to the Canadian market and recommendations by Canadian distributors on the requirements and conditions for the supply of goods to Canada;

♦ in May 2020, a video conference on the promotion of Belarusian woodworking products to Canada and Great Britain was held. The event was arranged by the Embassies of Belarus in Ottawa and London together with CERBA;

♦ in July 2020, a video conference on the promotion of Belarusian food products to the Canadian market, organized by the Embassy, was held.

As a short-term goal, the parties identified further progressive development of bilateral trade and economic cooperation.

Belarusian Diplomatic Missions

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