Trade between Lithuania and Belarus this year may reach 2 billion. USD (about 5,5 billion Lt), i.e. in 1.6 point more than last year, when the trade volume amounted 1.2 billion. USD, in June predicted Vladimir Dražin, Belarusian Ambassador in Lithuania, Verslo žinios‘ portal vz.lt wrote.
Direct foreign investments in Belarus that were accumulated in Lithuania exceeded 200 million Lt on March 31st this year and amounted 3,5 percent of the country’s direct investments abroad, the data of Department of Statistics shows.
It was announced in June that the Achema Group refuses the investment plans in Belarus, said the group leader Arūnas Laurinaitis. In Belarus, the Group intended to go into energetic, agriculture business, it was also interested in projects of renewable sources. It was stated that sanctions are introduced for Belarus, its government solutions are difficult to predict.
However, the sanctions for Belarusian regime did not broke the country’s economic relations with EU, including Lithuania, did not stop the transit. The representatives of our country’s industry asked for greater political clarity on the development of the relations with Belarus in the future.
“None of the business structures do not support dictatorship and is for democracy, but business must weigh the risks. We need to understand the possible future decisions regarding Belarus. As the politicians adopt one or another decision hundreds of millions that invested in logistics projects, Klaipėda port infrastructure can impend” – said A. Laurinaitis at the beginning of the summer.
Currently, the EU applies the ban sanctions to arrive in Community for 243 persons that are related to Belarus regime, their economic resources in the EU are frozen. That is also applied for 32 Belarusian companies. The ban to supply armaments and any related material for Belarus is valid.
I find that politically imposed sanctions invariably have a negative effect on one’s own business interests. It is trade of one service, product or another so obviously benefits both parties and communities. I think the term is cutting one’s nose off to spite one’s face.
The EU unelected leadership is very good at it. They are Olympian Gold Medal winners in duplicity, hypocrisy and sanctimonious posturing when imposing restrictions on trade.
It is selective: It is a pity politicians are not as diligent and principled when circumstances suggest they might be better employed tightening banking sector regulations and insisting on greater accountability.