Sharjah: Sharjah FDI Office (Invest in Sharjah), the investment promotion agency of Sharjah, and the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs for the Republic of Belarus, have announced the signing of a Memorandum of Understanding (MoU) aimed at enhancing investment and trade between the two nations. The signing ceremony took place in the presence of a delegation of Belarusian officials and representatives from the Sharjah business community.

The MoU was signed by Mohammed Al Musharakh, CEO of the Sharjah FDI Office and Mikalai Barysevich, Director General of the National Centre for Marketing and Price Study. This strategic partnership seeks to facilitate mutually beneficial opportunities for investors from both countries by promoting collaboration in several key areas.

Enhancing information exchange for trade and economic development

Firstly, the MoU emphasises the exchange of information between the parties, encompassing the exchange, distribution, and publication of data in print and electronic resources. This concerted effort aims to develop and promote trade and economic relations between Sharjah and Belarus. Additionally, the agreement entails conducting joint marketing research activities to enhance trade prospects and explore potential avenues for increased commercial cooperation. The parties have also committed to notifying each other about relevant trade fairs and exhibitions held in their respective countries and facilitating the participation of interested companies.

Strengthening business ties through collaborative events and training programs

The MoU entails the organisation of various business events, including the establishment of business contacts, exchange of business missions, fostering closer ties between the business communities, co-organization of seminars on potential business projects as well as market state and trends. Those procedures aim to foster relations that bring together representatives of different sectors in the economy of Sharjah and Belarus. The parties have also agreed to cooperate in organising training programs and providing technical assistance through international training seminars, webinars, and online video conferences for trade promotion.

Positive outlook for increased investment and trade

Mohammed Al Musharakh, CEO of Invest in Sharjah, commented, “The signing of this MoU is a significant milestone in strengthening the economic ties between Sharjah and Belarus. It underscores the commitment of both entities to create an enabling environment for investors, fostering collaboration and mutual growth.”

Al Musharakh further added, “We are confident that this MoU will pave the way for increased investment and trade between Sharjah and Belarus. We look forward to working with our Belarusian partners to explore new opportunities that drive the socio-economic development in the two countries.”

Echoing the sentiment, Mikalai Barysevich, Director General of the National Centre for Marketing and Price Study, stated, "We are delighted to sign this MoU with Invest in Sharjah. This agreement will help us to promote the features and characteristics of the Belarusian economy and shed light on the promising investment opportunities in our two countries."

Barysevich added: “The National Center for Marketing and Pricing Study is a vital hub for Belarusian businesses, fostering strong external relations with international partners in trade, investment, and knowledge exchange.

Emerging economies facilitate great investment opportunities

Sharjah is a renowned investment hub in the Middle East, offering a competitive business environment, a skilled workforce, and a strategic location. Belarus, on the other hand, boasts a rapidly growing economy with a young and educated population. The country presents numerous investment opportunities in sectors such as manufacturing, agriculture, and tourism.

The National Centre for Marketing and Price Study, an affiliate of the Ministry of Foreign Affairs of the Republic of Belarus, is a leading centre that promotes Belarusian economic sectors and the companies and entities that operate within them. It enhances relations between the Belarusian business community and foreign partners in trade, investment and exchange of expertise.