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                             1
Execut ive s um m ary




                                                           Source: http://pptgeo.3dn.ru/index/0-65




   Source:
   http://www.cumorah.com/index.php?target=mi
   ssiology_articles&story_id=23



T h e p u r p o s e o f cu r r e n t p a p er i s t o o b s e r v e a n d a n a l y z e t h e e c o n o mi c
s i t u a t i o n a n d b u si n e s s o p p o r t u n i t i e s o f B e l a r u s. T h e g o v e r n m e n t a n d
e c o n o m i c s t r u ct u r e s w i l l b e d e s c r i b e d . F u r t h er , t h e h i st o r i ca l c o m p a r i s o n
o f i nt er na ti o na l tra d e i n t h e r e pu bl i c wil l b e pr o v id e d a s we ll a s
g o v e r n m en t a t t i t u d e t o w a r d s i n t er n a t i o n a l t r a d e . T h e p o t e n t i a l f o r
i n t e r n a t i o n a l c o - o p er a t i o n w i l l b e d e t e r mi n e . P o r t er ‟ s „ D i a m o n d ‟ t h eo r y
and theor y a nd countr y si ze a re explai ned. Fi nal l y, r ecommendat ions for
fu r t h e r i m p r o v e m en t s wi l l b e p r o v i d e d .




                                                                 2
Background

B e l a r u s i s a n a u t h o r i t a r i a n st a t e w h i ch
o p e r a t e s i n co m m a n d e co n o m y r u l e s
( A b r e mi n , 1 9 9 9 ) . R e p u b l i c h a s g r ea t
p o t e n t i a l t h a t n o t y e t fu l l y e x p l o i t e d . M a i n
str engt h:

       Cont i nuou s economi c gr owt h
       Expor t or i entat i on of t he economy
       Low level cor rupti on
       A d v a n t a g e o u s g e o g r a p h i ca l l o ca t i o n

B e l a r u s i s a t r a n s i t c o u n t r y f o r R u s si a n g a s
a n d o i l sa l e s t o E u r o p e ; ma i n l y d e p e n d o n
i m p o r t s ( B e l a r u s T r a d e, 2 0 1 0 ) .

I n 1 9 9 1 S o v i e t U n i o n d ec l a r e d
i n d e p e n d e n c e o f B el a r u s ( B e l y , 2 0 0 0 ) .
C u r r e n t l y B e l a r u s i s d e m o cr a t i c, u n i t a r y ,
so cia l sta t e ba se d o n t h e ru l e o f la w
( B e l a r u s O f f i ci a l W e b si t e, 2 0 1 0 ) . B e l a r u s
f o l l o w s a p o l i cy o f m a r k et so c i a l i s m, b a s e d
o n s t r o n g g o v e r n m en t i n v o l v e m e n t a n d
d o m i n a t i o n o f p u b l i c p r o p er t y i n t h e
a gri cu ltu ra l a n d in du stria l se c t or s (P o p o v,
2002 ). P ri vat e owner shi p of la nd all owed
o n l y f o r i n d i v i d u a l s t o a l i mi t e d e x t e n t .
F i g u r e 1 r e p r e s e n t s g e n er a l i n f o r ma t i o n
a b o u t B el a r u s .



                                                                             Source: created by an author from
                                                                             http://www.belarus.by/en/about-
                                                                             belarus/history;
                                                                             h t t p : / / n e w s. b e l t a . b y / en / n e w
                                                                             s / ec o n o m? i d = 5 5 9 1 3 4 ;
                                                                             h t t p : / / w w w . i n d e x mu n d i . c o
                                                                             m / b e l a r u s/


                                                                 3
T h e b a s e s o f p o l i t i ca l s t r u ct u r e i n B el a r u s w er e f o r m e d d u r i n g S o v i et
P o w e r . M a i n l y p o l i t i ca l s c e n e i n B e l a r u s i s d o m i n a t e d b y L u k a s h e n k o , w h o
i s w e l l k n o w n f o r h i s p o l i t i ca l u n p r e d i ct a b i l i t y a n d f o r c o l o r fu l p u b l i c
s t a t e m e n t s ( M a r p l e s , 2 0 0 7 ) . T h e g o v e r n m e n t t y p e o f B el a r u s i s r e p u b l i c ,
h o w e v er i n fa c t i t i s st i l l d i c t a t o r s h i p ( B i r g er s o n , 2 0 0 2 ) . F i g u r e 2
i l l u s t r a t e s t h e r a n k i n g o f d e m o c r a cy i n d e x a n d p o l i t i ca l cu l t u r e i n B el a r u s .




   Source: http://ec.europa.eu/economy_finance/publications/publication12678_en.pdf

D u r i n g U S S R p er i o d t h e r e wa s o n l y o n e p a r t y - s y st e m , b a s e d o n M a r x i s m -
L e n i n i s m ( B a d i n , 2 0 0 2 ) . S i n c e S o v i e t t i m e s t h e g o v er n m e n t o f B el a r u s i s
c o n t r o l l i n g a l l s e ct o r s , t h er e f o r e B e l a r u s i s c o n s i d e r ed a s p o l i t i ca l l y r i sk y
( Birgerson, 2002) t h e mo s t r i sk y a r ea s a r e g o v e r n m e n t s t a b i l i t y , f i s ca l p o l i ci e s
a n d l e g a l s y s t e m ( F i g u r e 3 ) . F u n d a m en t a l p r i n ci p l e s o f t h e p o l i t i ca l a n d
a d m i n i st r a t i v e s y s t e m i l l u st r a t e d i n F i g u r e 4 . T h e cu r r en t g o v e r n m en t
stru ctu r e i s sho wn i n Fig u re 5 .
A l l p e o p l e i n B el a r u s h a v e r i g h t s f o r :
       F r e e h ea l t h t r ea t m e n t
       S o c i a l w el f a r e
       F r e e e d u ca t i o n
       P r o f e s s i o n a l t e ch n i ca l t r a i n i n g




                                                                  4
A m o n g a l l C I S c o u n t r i e s B el a r u s h a s v e r y l o w u n e mp l o y m e n t r a t e a t 1 . 6 %
( Fi g u r e 6 ) , w h i l e i n fl a t i o n r a t e i s v e r y h i g h a t 1 2 . 5 % . T h e f r e e d o m o f
e x p r e s s i o n i s v er y l i m i t e d ; “ R e p o r t e r s w i t h o u t B o r d er s” r a n k ed B e l a r u s
n u m b e r 1 5 2 o u t o f 1 6 7 u n d er t h e p r e s s f r e ed o m i n d e x , a l s o t h e n u m b er o f
i n d e p e n d e n t n e w s p a p er s i s r e d u ci n g .




    Source: Adopted by an author from
    htt p://www3 .a mb es t.c om/rati ngs/cr/r ep orts/ Belar us .p df




              Source: Adopted by an author from http://un.by/en/aboutbelarus/state/

                                                                5
Source: Created by an author from http://www.belarus.by/en/government/president;
http://www.belarus.by/en/government/parliament; http://www.belarus.by/en/government/courts

                                            6
 Source: Adopted by an author from
 http://www.indexmundi.com/belarus/unemployment_rate.html


Bus ines s in Belar us
B e l a r u s i s r a n k e d n u m b e r 5 8 f o r ea s e o f d o i n g b u s i n e s s ( F i g u r e 7 ) .
O v e r v i e w o f b u si n e s s en v i r o n m en t i s i l l u st r a t e d i n F i g u r e 8 . A p p e n d i x 1
i l l u s t r a t e s g e n e r a l p r o ce d u r e s o f st a r t i n g b u s i n e s s i n B e l a r u s .




    Source: Adopted by an author from
    htt p://www .d oi ngb usi nes s. org/D oc u men ts/Cou ntry Profil es/BLR .p df



                                                                  7
Figure 8 Overview of b usi ness e nviro nm ent




  Source: Created by an author from http://www.belarus.by/en/business/business-customs;
  http://www.belarus.by/en/business/business-environment




                                               8
C u r r e n t l y , B el a r u s‟ e c o n o m i c s t r u ct u r e i s u n d e r s t r i c t d e v el o p m e n t
( B e l a r u s i a n E m b a s s y , 2 0 1 0 ) . I n o r d er t o t a k e r e p u b l i c o n t h e i n t er n a t i o n a l
l e v e l t h e cu r r e n c y h a s b e e n d e v a l u e d b y 2 0 % i n 2 0 0 9 a n d s o m e
a d m i n i st r a t i v e m ea su r e s t a k e n ( B e l a r u si a n T e l eg r a p h A g e n c y , 2 0 1 0 ) .
E c o n o mi c s t r u ct u r e f o cu s :
     E n e r g y e f f i ci e n c y
     E x p o r t d i v e r si f i ca t i o n
M a j o r i t y o f B e l a r u s e c o n o m y i s c o n t r o l l e d b y st a t e s ( E c o n o m y W a t c h ,
2 0 1 0 ) . F i g u r e 9 sh o w s g e n er a l d e s cr i p t i o n o f B e l a r u s e c o n o m y .




 Source: Adopted by an author from
 http ://www.econ omywatch.com/world_econ omy/belarus/stru cture -of-
 e c o n o m y . h t m l ; http://belarusdigest.com/2010/04/19/where-is-belarus-in-international-
 rankings/#more-2872
                                                        9
I n 2 0 1 0 G D P i s n e g a t i v e ( T h e W o r l d F a ct B o o k , 2 0 1 0 ) ; h o w e v er B e l a r u s
h a s a st r o n g o v e r a l l e c o n o m i c g r o w t h ( F i g u r e 1 0 a n d F i g u r e 1 1 ) a n d
c u r r e n t l y g o v er n m e n t p l a n n i n g t o r a i s e G D P b y 1 1 p er c e n t a n d d e v e l o p
p o l i c i e s i n o r d er t o st a b i l i z e p r i c e s ( I n t e r a ct i v e I n v e st o r , 2 0 1 0 ) . I n 2 0 0 9
i n f l a t i o n i n cr ea s e d d u e t o d e p r e c i a t i o n o f R u s si a n r u b l e ( G l o b a l F i n a n c e
B e l a r u s C o u n t r y R e p o r t , 2 0 1 0 ) . I n fl a t i o n s h o w n i n Fi g u r e 1 2 . H o w e v er , i n
2 0 1 0 i t s t a r t e d t o r ed u c e a n d b y 2 0 1 2 e x p e c t e d t o fa l l t o s i n g l e d i g i t s
( E c o n o m y W a t ch , 2 0 1 0 ) . I n 2 0 1 0 B el a r u s e c o n o m i c f r e e d o m s c o r e r ea c h e d
4 8 . 7 , w h i c h ma d e r e p u b l i c e c o n o my t h e 1 5 0 t h f r e e st ( I n d e x o f E c o n o mi c
F r e e d o m, 2 0 1 0 ) . D u e t o t h e i m p a c t o f S o v i et r e g u l a t i o n s , B e l a r u s f r e e d o m
s c o r e s c o n s i d er e d l o w er t h a n w o r l d a v er a g e ( F i g u r e 1 3 ) ; f i n a n ci a l ,
i n v e s t m en t a n d c o r r u p t i o n fr e e d o m s a r e 2 0 -4 0 p o i n t s b el l o w w o r l d a v er a g e
( A p p e n d i x 2 ) . Fi g u r e 1 4 i l l u st r a t e s t r a n si t i o n i n d i ca t o r s f o r y ea r 2 0 0 9 .
A p p e n d i x 3 sh o w s h i s t o r i ca l c o m p a r i s o n o f fi s ca l b a l a n c e , i n t er e st r a t e s a n d
s t r u c t u r a l i n d i ca t o r s .




 Source: Adopted by an author from h t t p : / / w w w . g f m a g . c o m /g d p - d a t a - c o u n t r y - r e p o r t s / 3 1 9 -
 belarus-gdp -cou ntry-report.h tml




 Source: Adopted by an author from
 h t t p : / / w w w . i n d e x m u n d i . c o m / b e l a r u s / g d p _ r e a l _ g r o wt h _ r a t e . h t ml
                                                                        10
Source: Adopted by an author from
http://www.indexmundi.com/belarus/gdp_(official_exchange_rate).html




Source: Adopted by an author from
htt p://www .in d ex mun di. com/ b elarus/i nflati on_ra te_( cons umer _p
rices) .h tml




                                            11
Source: h t t p : / / w w w . h e r i t a g e . o r g / i n d e x / p d f / 2 0 1 0 / c o u n t r i e s / b e l a r u s . p d f




   Source: Adopted by an author from
   htt ps:// d ocs .googl e.c om/vi ew er? url=htt p://www .ebr d.c om/ dow nloads
   /res earch/ ec on omic s/b elar us. p df& emb edd ed=tru e




                                                                  12
B e l a r u si a n cu l t u r a l p o l i c y i s ma i n l y a i m ed t o e n su r e t h a t c u l t u r a l r i g h t s a r e
e q u a l f o r t h e w h o l e s o ci e t y a s w el l a s f o r e v e r y i n d i v i d u a l ( Minahan, 1998) .
P r e si d e n t su p p o r t s ma j o r i t y o f cu l t u r e a n d a r t ev e n t s i n o r d er t o d e v el o p
s t r o n g cu l t u r e i n r e p u b l i c ( Belarusian National Culture, 2 0 1 0 ) . F i g u r e 1 5
i l l u s t r a t e s g e n e r a l fa ct o r s a b o u t B el a r u s i a n cu l t u r e.




 Source: Created by an author from http://www.belarusembassy.org/belarus/culture.htm;
 http://www.belarus.by/en/about-belarus/culture; http://www.belarus.by/en/about-
 belarus/climate-and-weather; http://www.belarus.by/en/about-belarus/nationality;
 http://www.belarus.by/en/about-belarus/geography; http://www.belarus.by/en/about-
 belarus/religion

                                                                 13
F o r e i g n e c o n o mi c a ct i v i t i e s a s w el l a s t r a d e b a l a n c e w e r e p o si t i v e o v er
s e v e r a l d e ca d e s.



     A l m o st 4 0 p er c e n t o f i n d u s t r i a l o u t p u t s e x p o r t e d t o t h e S o v i e t
         repu bl i cs (T he W orl d Fa ct Book , 2002)

         A b o u t 9 0 p er c e n t o f i t s p r i ma r y e n er g y a n d 7 0 p er c e n t o f r a w
         ma t e r i a l s i mp o r t e d f r o m S o v i et U n i o n ( T h e W o r l d F a ct B o o k , 2 0 0 2 )



     I n d e p e n d e n t f o r e i g n t r a d e s w i t h f o r m er S o v i e t R ep u b l i c s a n d o t h er
         c o u n t r i e s R u s si a i s t h e b i g g e s t t r a d i n g p a r t n er ( B el y , 2 0 0 0 )

     B e l a r u s i s d e p e n d e n t o n R u s s i a f o r r a w ma t e r i a l i m p o r t a n d f o r
         e x p o r t ma r k et

     T h e i m p o r t s t r u ct u r e h a s c h a n g ed w i t h s o m e t r a d i t i o n a l i t e m s l i k e
         m ea t , a n i ma l fa t s a n d ma r g a r i n e b ei n g i m p o r t e d fr o m a b r o a d

F i g u r e 1 6 i n d i ca t e s h i st o r i ca l c o m p a r i s o n o f e x p o r t a n d i m p o r t fr o m 2 0 0 3
to 2010.




  Source: Adopted by an author from http://www.indexmundi.com/belarus/exports.html



                                                             14
      Source: Created by an author from http://www.indexmundi.com/belarus/imports.html




     G D P g r o wt h – 1 1 . 7 % i n 1 9 9 4 a n d 1 1 . 4 3 i n 1 9 9 7
     GDP S har e of W or ld T otal – 0.124 % in 1994 a nd 0.113 % i n 1997
 Source: http://www.economywatch.com/economic-statistics/country/Belarus/year-1997/



F i g u r e 1 7 s h o w s st a t i st i c s f o r t r a d e d u r i n g 5 y ea r s fr o m 1 9 9 4 . M a i n s o u r c e s
o f ex p or t a n d i mp ort du ri n g th i s p e ri o d a r e sh o wn in Fig u re 1 8 .




   Source: Adopted by an author from P l ok h y , S e r h i i ( 2 0 0 6 ) . Th e O r i g i n s o f t h e
   S l a v i c N a t i o n s . C a mb r i d g e U n i v e r si t y P r e s s. p p . 9 4 – 9 5




                                                           15
Source: Adopted by an author from http://www.economywatch.com/economic-
statistics/country/Belarus/year-1994/; http://www.economywatch.com/economic-
statistics/country/Belarus/year-1995/



                                            16
F i g u r e 1 9 s h o w s i m p o r t a n d e x p o r t i n 2 0 0 0 . F i g u r e 2 0 s h o w s ma i n t r a d i n g
p a r t n e r s.




 Source: Adopted by an author from http://www.nationsencyclopedia.com/Europe/Belarus.html




Source: Adopted by an author from http://www.nationsencyclopedia.com/Europe/Belarus-FOREIGN-
TRADE.html




                                                           17
S h a r e o f s el e c t ed E U c o u n t r i e s i n B e l a r u s i a n f o r e i g n t r a d e f o r 1 9 9 3 -2 0 0 3
illu strated in Figure 21 and Figure22 .




    Source: Adopted by an author from http://un.by/pdf/1321_eng_Appendix_2.pdf



                                                            18
I n 2 0 0 5 f o r ei g n t r a d e q u o t e r ea c h ed 1 4 3 % a n d r e p u b l i c a l s o i n cr ea s e d
c o o p e r a t i o n wi t h C h i n a a n d w i t h S y r i a ( T h e W o r l d F a c t B o o k , 2 0 0 5 ) .
H o w e v er , r ep u b l i c h a s h a d a t r a d e d e f i ci t . Fi g u r e 2 2 r e p r e s e n t s c o m p a r i s o n
export ed qu ot e for 2005.




 Source: Adopted by an author from
 https://docs.google.com/viewer?url=http://www.ebrd.com/downloads/research/ec
 onomics/belarus.pdf&embedded=true
                                                            19
     F o r ei g n t r a d e d e f i ci t o f $ 2 . 9 b i l l i o n
     CIS countri es * defi cit - $5.7 bill i on
     N o n - C I S c o u n t r i e s r e su l t e d a su r p l u s o f $ 2 . 8 b i l l i o n
     E x p o r t i n c r ea s e d b y 1 8 % t o $ 1 9 . 5 b i l l i o n
     I m p o r t i n c r ea s e d b y 2 4 . 2 % t o $ 1 4 . 6 b i l l i o n
     A n i n cr ea s e i n t h e s h a r e o f e n er g y p r o d u ct s i n t o t a l m e r ch a n d i s e
         e x p o r t fr o m 8 % i n 1 9 9 8 t o 3 8 % i n 2 0 0 6

 Source: Figure taken from The World Fact Book (2006) and from Embassy of the republic of Belarus,
 Foreign Trade of Belarus in Goods




F i g u r e 2 3 i l l u st r a t e s B el a r u s i a n f o r e i g n t r a d e wi t h c er t a i n c o u n t r i e s .

     F o r ei g n t r a d e i n c r ea s e b y 2 1 . 3 p er c e n t t o $ 4 1 . 8 b i l l i o n
     T r a d e w i t h C I S c o u n t r i e s r ea ch e d 5 6 . 4 p er c e n t o f t o t a l t r a d e t u r n o v e r
     T r a d e w i t h n o n - C I S c o u n t r i e s i n c r ea s e d b y 1 6 p er c e n t




   Source: Adopted by an author from
   http://www.belarusembassy.org/economic/foreign_trade_in_goods_01-10_2007.htm

F i g u r e 2 4 i l l u s t r a t e s t h e m a i n f o r ei g n t r a d e i n d i ca t o r s . T h e g o o d s a n d
s o u r c e s o f t r a d e a r e s h o w n i n F i g u r e 2 5 . T h e co m p a r i s o n o f G D P a l l o ca t i o n
by sector s pr esent ed i n Figure 26.




                                                                20
  Source: Adopted by an author from
  https://docs.google.com/viewer?url=http://www.ebrd.com/downloads/researc
  h/economics/belarus.pdf&embedded=true




Source: Adopted by an author from
https://docs.google.com/viewer?url=http://www.ebrd.com/downloads/researc
h/economics/belarus.pdf&embedded=true


                                       21
   Source: Adopted by an author from
   http://earthtrends.wri.org/pdf_library/country_profiles/eco_cou_112.pdf;
   htt ps:// d ocs .googl e.c om/vi ew er? url=htt p://www .ebr d.c om/ dow nloads
   /res earch/ ec on omic s/b elar us. p df& emb edd ed=tru e



F i g u r e 2 7 i l l u s t r a t e s s h a r e o f o u t p u t s el e c t ed i n d u st r i e s i n t o t a l i n d u st r i a l
out put .




 Source: Created by an author from
 https://docs.google.com/viewer?url=http://www.ebrd.com/downloads/research
 /economics/belarus.pdf&embedded=true




                                                                 22
      T rade l i nk s wit h mor e tha n 170 countri es

      Inter nati onal t rade of US$50 bill i ons

      E x p o r t t o C I S c o u n t r i e s d e cr ea s e d b y 3 5 p e r c en t t o 2 1 $ m i l l i o n

      E x p o r t t o n o n - C I S co u n t r i e s f el l b y 3 4 . 4 p er c e n t t o $ 1 2 b i l l i o n

      I m p o r t d e cr ea s e d b y 2 7 . 5 p er c e n t t o $ 2 8 . 5 b i l l i o n
  Source: Data taken from The World Fact Book (2009) and from The Official Web Site of The
  Republic Of Belarus




      E x p o r t i n c r ea s e d b y 3 2 p er c e n t a n d t o o k a s t r o n g p o si t i o n
      I m p o r t g r o w n j u s t f o r 5 p er c e n t
      T h e cu r r e n t a c c o u n t d e f i ci t i s 1 5 . 1 p e r c e n t o f G D P

Source: Data taken from The World Fact Book (2010) and from The Official Web Site of The
Republic Of Belarus


F o r t h e l a s t 2 5 y ea r s t h e f o r e i g n t r a d e i n B el a r u s h a s b e e n c h a n g e d
s i g n i fi ca n t l y , t h e r ea s o n s a r e :

      S o v i et U n i o n c o l l a p s e
      E l e ct i o n o f n e w p r e s i d e n t ( 1 9 9 4 )

L u k a s h e n k o c h a n g e d e n t i r e e c o n o mi c a s w e l l a s i n t er n a t i o n a l t r a d e b y
c h a n g i n g a n d d e v el o p i n g p o l i ci e s , i m p r o v i n g a d mi n i st r a t i v e c o n t r o l o v er
p r i c e s a n d cu r r e n c y ex c h a n g e r a t e s.




                                                              23
By t he end of 1992 B elaru s wa s recogni zed by mor e t han 1 00 cou ntr i es a nd
h a d d i p l o m a t i c r el a t i o n s wi t h a l m o s t 7 0 c o u n t r i e s ( P o p o v , 2 0 0 2 ) . T h e ma i n
i n c o m e f o r t h e r e p u b l i c i s e x p o r t a n d i m p o r t , t h er e f o r e g o v er n m e n t
c o n t i n u o u sl y m o d i f y i n g p o l i ci e s f o r f o r e i g n t r a d e i n o r d e r t o s i m p l i f y
p r o c e s s e s a n d st r en g t h e n t h e t r a n s i t p o t en t i a l o f r e p u b l i c . I n 2 0 0 9
i n t e r n a t i o n a l t r a d e g e n er a t e d US $ 5 0 b i l l i o n t o t h e B el a r u s i a n e co n o m y
(T he W orl d Ba nk, 2010 ).

2010:

     B e l a r u s t r y i n g t o i n cr ea s e t h e p o t e n t i a l o f c o u n t r y ‟ s F r e e E c o n o mi c
         Z o n e s ( A l y a k sa n d r M i k h n ev i c h , 2 0 1 0 )
     I n cr ea s i n g s h a r e s o f B el a r u s i a n c o m p a n i e s i n i n t er n a t i o n a l ca p i t a l s
         ma r k e t s
     A t t r a c t i n g n e w f o r e i g n i n v e st m e n t s

F i g u r e 2 8 s h o w s g r o w t h o f f o r e i g n i n v e s t m en t s i n B el a r u s .




M o r e o v e r , B e l a r u s o f f e r s s o m e su p er i o r a d v a n t a g e s f o r f o r ei g n b u s i n e s s e s ,
whi ch ar e descri bed in Figure 29.




                                                               24
    Source: Adopted by an author from http://www.nationsencyclopedia.com/Europe/Belarus-
    FOREIGN-TRADE.html; http://www.nationsencyclopedia.com/economies/Europe/Belarus-
    INTERNATIONAL-TRADE.html; http://www.belarus.by/en/invest/economic-background

Su mmar y

B e l a r u s h a s a p o s i t i v e a t t i t u d e t o wa r d s i n t e r n a t i o n a l t r a d e , ma i n l y b e ca u s e
f o r e i g n t r a d e g en e r a t e s ma j o r i t y o f c o u n t y ‟ e c o n o m y . B e f o r e 2 0 0 9 B el a r u s
e x p o r t e d t o 8 6 c o u n t r i e s a n d i m p o r t e d fr o m 1 1 8 , s i n c e ea r l y 2 0 0 9 n u m b er
o f f o r e i g n t r a d i n g co u n t r i e s i n cr ea s e d t o 1 4 1 f o r e x p o r t a n d 1 6 8 f o r i m p o r t
( T r a n si t i o n R e p o r t , 2 0 0 9 ) . I n t h e n e x t fi v e y ea r s B el a r u s p l a n n i n g t o f o cu s
o n f o r e i g n d i r ec t i n v e s t m e n t s a n d u s e t h e p o t e n t i a l o f i n d u s t r i a l a ct i v i t i e s .



                                                                 25
B e l a r u s i s a m e m b er o f s e v er a l i n t er n a t i o n a l o r g a n i za t i o n s i n cl u d i n g E C O ,
UNCTAD, ECE, IAEA, OSCE and IMF, which help Belarus to develop relations with other nations
as well as promote growth of world trade.. I n o r d er t o f o r m r e l a t i o n s wi t h o t h er
n a t i o n s t h e a t t e n t i o n s h o u l d b e f i r st p a i d o n l a n d b o r d er s ; s e c o n d B e l a r u s
s h o u l d d e v el o p o r m o d i f y r e l a t i o n s wi t h i t s g e o g r a p h i c a n d e c o n o mi c
g r o u p s, w h i c h a r e s h o w n i n F i g u r e 3 0 . F i g u r e 3 1 i l l u st r a t e s p o t en t i a l
c o u n t r i e s f o r B e l a r u s i n o r d er t o co o p er a t e.




 Source: Adopted by an author from http://www.fao.org/countryprofiles/index.asp?lang=en&ISO3=BLR;
 http ://www.econ omywatch.com/world_eco n omy/belarus/stru cture-of-
 economy.html




                                                              26
B e l a r u s h a s a h i g h p o t e n t i a l f o r f o r ei g n i n v e s t m e n t s a n d c o o p e r a t i o n wi t h
o t h e r n a t i o n s f o r t h e f o l l o w i n g r ea s o n s:

      Highest GD P a mong C IS countri es
      Low ext erna l dept
      N o a b s o l u t e p o v er t y

I n o r d e r t o u s e t h e fu l l p o t en t i a l o f c o o p er a t i o n w i t h o t h er c o u n t r i e s a n d
a t t r a c t f o r e i g n c o m p a n i e s t o i n v e s t i n B e l a r u s, r e p u b l i c s h o u l d p a y
a t t e n t i o n o n i t s p o l i ci e s , a r b i t r a r y l e g a l s y s t e m, l i c e n s i n g s y s t e m a n d p r i c e
c o n t r o l . F i g u r e 3 2 p r o v i d e s e x p er t s ‟ v i e w s o n B el o r u s s i a n p o t e n t i a l .




                                                                27
Source: Adopted by an author from http://www.belarus.by/en/invest/invest-in-
belarus/testimonials




                                               28
T h e t h e o r i e s o f a b so l u t e a d v a n t a g e s a r e e x p l a i n e d i n A p p e n d i x 4 .
A c c o r d i n g t o S m i t h ( 1 7 7 6 ) a b so l u t e a d v a n t a g e ca n b e n a t u r a l o r a cq u i r e d ,
t h e r e f o r e n a t u r a l a n d a c q u i r e d a d v a n t a g e s f o r B el a r u s fu r t h er ex p l a i n e d .




  Source: Adopted by an author from http://www.timeanddate.com/worldclock/city.html?n=285;
  https://www.cia.gov/library/publications/the-world-factbook/geos/bo.html;
  http://www.belarustourist.minsk.by/belarus/climate.shtml; http://www.climatetemp.info/belarus/




                                                               29
Source: Adopted by the author from
htt p:// d ep ot .gd n et . org/gdn shar e/ pd f/dra ft _c ou ntry _s tu di es/
Belaru s_final .p df




Source: Adopted by the author from
htt ps:// d ocs .googl e.c om/vi ew er? url=htt p://www .ebr d.c om/ do
wnloa ds/r es earc h/econ omics/ belar us .p df& emb edd ed =tru e




Source: adopted by an author from http://belstat.gov.by/homep/ru/indicators/agriculture.php




                                               30
Source: Adopted by an author from
http://it.too lbox.com/wiki/ index.php/How_to_remain_a_cost -
competit ive_outsourcing_venue_in_the_aggress ively_growing_offshoring_market ;
http://www.belarus.by/en/invest/investment-climate/labour-market;
http://www.iii.co.uk/news/?type=afxnews&artic leid=7 8001 23&subject=markets& a
ction=art icle;
htt p://www . menaf n .c om/ q n _n ews _s tory _s .as p? St ory Id =1 093149789




                                              31
B o t h , B el a r u s a n d R u s s i a p r o d u c e f i n i t e o i l a n d b o t h p r o d u c e a g r i cu l t u r a l
p r o d u c t s . F i g u r e 3 8 s h o w s t h a t i n t er m s o f o i l R u s s i a h a s d e f i n i t e a b s o l u t e
a d v a n t a g e; t h er e i s n o wa y t h a t B el a r u s ca n p r o d u c e m o r e o i l t h a n R u s s i a .
I n t e r m s o f p r o d u c i n g a g r i cu l t u r a l p r o d u c t s R u s si a a l s o h a s a n a b s o l u t e
a d v a n t a g e d u e t o t h e a b i l i t y o f i t s l a n d ; h o w e v er B e l a r u s h a s a c o m p a r a t i v e
a d v a n t a g e i n t er m s o f p r o d u c t i o n a n d l a b o r c o s t s ( Fi g u r e 3 8 a ) . T h e s e
r e d u c e R u s si a n a b i l i t y t o c o m p et e wi t h B e l a r u s i n t er m s o f a g r o s e c t o r .
H o w e v er , i t i s d i f f i cu l t t o e v a l u a t e a g r i c u l t u r a l s e ct o r i n t er m s o f
c o m p a r a t i v e a d v a n t a g e ( L e v i n , 2 0 1 0 ) d u e t o l i mi t a t i o n o f l a n d , a l s o
d e m a n d a n d su p p l y ca n n o t b e c o m p l e t el y sa t i s f i e d , m a r k et p r i c e a r e n o t
e q u a l t o ma r g i n a l c o s t s a n d d u e t o t e c h n o l o g i ca l l i m i t s .
H o w e v er , B el a r u s h a s c o m p a r a t i v e a d v a n t a g e i n t e x t i l e , m a c h i n er y a n d
c l o t h i n g s e c t o r s d u e t o t h e l o w o p p o r t u n i t y co s t Marples (D a v i d ( 2 0 0 7 ) .
D u e t o t h e a b o v e , B el a r u s i m p o r t R u s si a n o i l a n d e x p o r t t o R u s si a m o st o f
its commodities.




  Source: Adopted by an author from http://www.nationmaster.com/country/bo-belarus/agr-
  agriculture; http://www.nationmaster.com/graph/agr_mea_pro-agriculture-meat-
  production; http://www.nationmaster.com/graph/agr_cer_pro-agriculture-cereal-production




Source: http://www.pro-kartofel.info/id/1101;
http://www.belarusembassy.org/economic/wish_to_know.htm;
http://www.klerk.ru/buh/articles/42701/; http://mi.aup.ru/res/53/562949977216053.html

                                                              32
 Source: Adopted by an author
 h ttp : //eco n c10.b u .ed u /econ o mic_sy stems/Co u n tr y _co mp ar iso n s/co u co mp _f r am
 e_lg.ht m



A c c o r d i n g t o D a n i el s & R a d eb a u g h ( 2 0 0 9 ) c o u n t r i e s w i t h s ma l l a r ea s a r e
m o r e d e p e n d e n t o n t r a d e , t h e i r cl i ma t e a n d n a t u r a l r e s o u r c e s a r e n o t a s
d i v e r s i f i ed a s i n b i g c o u n t r i e s a n d t h e r e f o r e s ma l l c o u n t r i e s a r e l e s s s e l f
su f f i c i e n t . A d d i t i o n a l l y , t r a n s p o r t a t i o n c o s t s i n s ma l l co u n t r i e s a r e h i g h er
t h a n i n b i g ( N i s s o l e , 2 0 0 2 ) . F i g u r e 3 9 s h o w s r el a t e d d e s cr i p t i o n o f t h e
B e l a r u s i a n si z e . B el a r u s l o ca t i o n a n d d e v el o p m en t o f t r a n s p o r t a t i o n
( Fi g u r e 4 0 ) h e l p s r e p u b l i c t o sa v e o n t r a n s p o r t c o st s i n t r a d e. A c c o r d i n g t o
F i g u r e 4 1 B e l a r u s i s r a n k e d n u m b er 8 5 b y c o u n t r y si z e a m o n g a l l c o u n t r i e s,
w h i c h q u i t e b i g g er t h a n ma j o r i t y o f E u r o p ea n c o u n t r i e s , h o w e v er B el a r u s
h a s q u i t s m a l l s i z e , t h er e f o r e i t mu c h d e p e n d a n t o n f o r ei g n t r a d e .




   Source: Adopted by an author from h t t p s : / / w w w . c i a . g o v / l i b r a r y / p u b l i c a t i o n s / t h e -
   world-factbo ok/geos/bo.h tml




                                                                 33
Source: Adopted by an author from h t t p s : / / w w w . c i a . g o v / l i b r a r y / p u b l i c a t i o n s / t h e -
world-factbo ok/geos/bo.h tml




Source: Adopted by an author from https://www.cia.gov/library/publications/the-world-
factbook/rankorder/2147rank.html?countryName=Belarus&countryCode=bo&regionCode=eu&ran
k=85#bo




                                                              34
T h e a b s o l u t e a m o u n t o f t h e c o u n t r y t r a d e ca n b e m ea su r ed b y p e r c en t a g e o f
o u t p u t a n d c o n su m p t i o n ( Va n D u r e n et a l . 1 9 9 4 ) . Fi g u r e 4 2 sh o w s W o r l d 1 0
t o p t r a d er s , w h e r e B el a r u s i s n u m b er 6 5 a s a n e x p o r t er a n d 6 0 a s a n
i m p o r t er wi t h a v e r y l i t t l e w o r l d ‟ s h a r e t r a d e o f l e s s t h a n 1 p er c e n t , w h i c h
s h o w s t h a t B e l a r u si a n s i z e o f t h e e c o n o m y i s r el a t i v el y s m a l l c o m p a r e t o
d e v e l o p m e n t c o u n t r i e s . E v e n i n t e r n a t i o n a l si z e o f B el a r u s e c o n o m y i s
r e a l l y s m a l l , h o w e v er t h e c o u n t r y ‟ e c o n o m y s i z e i s q u i t e g o o d , w h i c h ca n
b e s e e n fr o m F i g u r e 4 3 , wh i c h i l l u s t r a t e s g en e r a l t r a d e p e r f o r ma n c e
i n d i c a t o r s o f B el a r u s .




   Source: Adopted by an author from
   h t t p : / / st a t . wt o . o r g / C o u n t r y P r o f i l e / W S D B C o u n t r y P F V i e w. a s p x ? L a n g u a g e = E
   &Country=DE,FR ;
   h t t p : / / st a t . wt o . o r g / C o u n t r y P r o f i l e / W S D B C o u n t r y P F V i e w. a s p x ? L a n g u a g e = E
   &Country=CN,DE,SG;
   h t t p : / / st a t . wt o . o r g / C o u n t r y P r o f i l e / W S D B C o u n t r y P F V i e w. a s p x ? L a n g u a g e = E
   &Country=BY




                                                                     35
Source: Adopted by an author from h t t p : / / w w w . i n t r a c e n . o r g / m e n u s / c o u n t r i e s . h t m




Source: Adopted by an author from h t t p : / / w w w . i n t r a c e n . o r g / m e n u s / c o u n t r i e s . h t m




                                                              36
F i g u r e 4 4 s h o w s fr a m e w o r k o f P o r t e r ‟ s d i a m o n d a n d A p p e n d i x 6 d e s c r i b e s
t h e b a si s t h e o r i e s . T h e f o u r c o n d i t i o n s f o r B e l a r u s a r e e x p l a i n ed b el l o w .




  Source: Adopted by an author from
  http://www.teagasc.ie/research/reports/foodprocessing/4984/4984fig02.gif




                                                              37
Source: Created by an author from h t t p : / / w w w . t h e ma n a g e r . o r g / p d f / d i a m o n d . p d f ;
W e r n e f el t , B . ( 1 9 8 4 ) . T h e r e s o u r c e - b a s e d v i e w o f t h e fi r m . S t r a t e g i c
M a n a g e m e n t J o u r n a l , 5 , 1 7 1 -1 8 0 ; http://www.belarus.by/en/invest/investment-
climate/high-technology-park




                                                          38
A c c o r d i n g t o P o r t er ( 2 0 0 1 ) l o ca l d e ma n d i s a b a s i s f o r t h e n a t i o n a l
a d v a n t a g e. B el a r u s i s a b l e sa t i s f y l o ca l ma r k et d e ma n d , h o w e v er j u s t l o ca l
m a r k e t s a r e n o t e n o u g h f o r l o ca l p r o d u ce r s . F i g u r e 4 6 e x p l a i n s d e ma n
condit i os for B elaru s.




                                                           39
    Source for Figure 46 created from P o r t e r , M . E . ( 1 9 9 0 , 1 9 9 8 ) " T h e C o m p et i t i v e
    Adva nta ge of Na ti ons", F ree Pr ess, N ew Y ork , 1990 ;
    h t t p : / / w w w . i n v e st . b e l a r u s. b y / e n / a d v a n t a g e s / ;
    h t t p : / / t r a d e p o r t . o r g / t s / c o u n t r i e s / b e l a r u s / i sa / i n d e x . h t ml ;
    h t t p : / / si t e r e s o u r c e s. w o r l d b a n k . o r g / IN T B E L A R U S / R e s o u r c e s / P D F _ D O C . p d f ;
    h t t p : / / w w w . c c b . se / d o c u me n t s/ O r g a g r i B e . p d f




Source : Created by an author from
h t t p : / / si t e r e s o u r c e s. w o r l d b a n k . o r g / IN T B E L A R U S / R e s o u r c e s / P D F _ D O C . p d f ;
h t t p : / / w w w . b i z t r a d e sh o w s. c o m / b e l a r u s/ b e l a r u s -
t r a d e sh o w s. mp ? i n d u st r y = a g r i c u l t u r e - f o o d ;
http ://www.econ omywatch.com/world_econ omy/belarus/stru cture -of-
economy.html; h ttp ://data.worldbank. org/country/b elarus ;




                                                                      40
Source : Created by an author from h t t p : / / n e ws . b e l t a . b y / e n / n e w s / e c o n o m ? i d = 5 5 9 1 3 4 ;
http://www.belarus.by/en/invest/investment -clim ate/labour -market;
http://data.worldbank.org/country/belarus ;
h t t p : / / d e v . p r e n h a l l . c o m / d i v i s i o n s / h s s / w o r l d r e f e r e n c e / B Y / e c o n o mi c s . h t m l ;
http://data.worldbank.org/country/belarus ;
                                                                            41
T h e r o l e o f B el a r u s i a n g o v er n m en t i s t o i n f l u e n c e d i r e ct l y a n d i n d i r e c t l y
a l l f o u r a s p e ct s i n t h e P o r t er ‟ s „ d i a m o n d ‟ t h r o u g h d i f f e r e n t p o l i c i e s a n d
a ct i on s ( Fig u re 4 9 ).




 Source : Created by an author from http://www.government.by/en/eng_solution1051.html;
 http://www.belarus.by/en/invest/key-sectors-for-investment;
 http://www.mfa.gov.by/upload/liberalisation.pdf; http://www.docstoc.com/docs/48671881/AGREEMENT-
 BETWEEN-GOVERNMENT-OF-THE-REPUBLIC-OF-BELARUS-AND;
 http://naviny.by/rubrics/english/2010/05/20/ic_media_video_259_4237/;
 http://www.ifrc.org/docs/appeals/annual10/MAABY00210p.pdf




                                                               42
C u r r e n t l y B e l a r u s h a s a g r o w i n g e c o n o m y , h o w e v er i n o r d er t o su s t a i n i t s
g r o w t h t h e g o v er n m e n t n e e d s t o i m p r o v e i t s r e g u l a t i o n s a n d a d d m o r e
f r e e d o m t o b u s i n e s s e n v i r o n m e n t . F u r t h er r e c o m m e n d a t i o n s d e s c r i b e d i n
Figure50.




  Source: Created by an author using information from
  http://www.mintorg.gov.by/index.php?option=com_content&task=view&id=962&Itemid=5&lang=
  en; http://www.mintorg.gov.by/index.php?option=com_content&task=view&id=963&lang=en




                                                              43
References
A b r e m i n Va d i m ( 1 9 9 9 ) " I n B i g D a d d y ' s S h a d o w: B e l a r u s D i ct a t o r
A l e x a n d er L u k a s h e n k o M a i n t a i n s a S o v i e t - S t y l e G r i p o n H i s L o n g -
S u f f e r i n g P eo p l e. " T i m e I n t e r n a t i o n a l , M a y 1 7 , v o l . 1 5 3 , n o . 1 9 , p . 4 2 .


A l y a k sa n d r M i k h n e v i c h B e l a r u si a n F o r e i g n M i n i st er ( 2 0 1 0 ) N a v i n y N e w s
„ F o r e i g n M i n i s t er m e e t s w i t h h ea d s o f B el a r u s ' d i p l o ma t i c mi s s i o n s . ‟
[ O n l i n e] A v a i l a b l e a t
h t t p : / / n a v i n y . b y / r u b r i c s/ e n g l i s h / 2 0 1 0 / 0 7 / 2 6 / i c_ m e d i a _ v i d e o _ 2 5 9 _ 4 5 0 4
[ a c c e s s e d 5 Au g u st 2 0 1 0 ]


A M B C o u n t r y R i sk R e p o r t ( 2 0 0 9 ) B el a r u s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w3 . a m b e st . c o m/ r a t i n g s/ c r / r e p o r t s/ B e l a r u s . p d f [ a c c e s s e d 5 Au g u st
2010]


B a d i n A n d r e y ( 2 0 0 2 ) " C r a ck s i n t h e C o n cr e t e; B el a r u s. " T h e E c o n o m i s t
(U S ) , F e b r u a r y 2


B a k e r , P et e r & S u sa n G l a s s e r ( 2 0 0 1 ) . " P r e si d e n t C l a i m s V i c t o r y i n
B e l a r u s. " Wa s h i n g t o n Po s t , S e p t e m b er 1 0 , p . A1 3


B e l a r u s A g r i cu l t u r a l P r o d u c t i v i t y a n d C o m p e t i t i v e n e s s I m p a ct o f S t a t e
S u p p o r t a n d M a r k e t I n t er v en t i o n ( 2 0 0 9 ) [ O n l i n e] A v a i l a b l e a t
h t t p : / / si t er e s o u r c e s . w o r l d b a n k . o r g / I N T B E L A R US / R e s o u r c e s / P D F _ D O C . p d f
[ a c c e s s e d 2 Au g u st 2 0 1 0 ]


B e l a r u si a n E m b a s s y ( 2 0 1 0 ) I n v e st m e n t O p p o r t u n i t i e s o f t h e R e p u b l i c o f
Belaru s [O nl ine] Ava ila bl e at
h t t p : / / w w w . b el a r u s e m b a s s y . o r g / e c o n o mi c/ i n v e st m e n t s / i n v e s t m en t _ o p p o r t u n
i t i e s . h t m [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


B e l a r u si a n N a t i o n a l C u l t u r e ( 2 0 1 0 ) [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b el a r u s e m b a s s y . o r g / b el a r u s/ cu l t u r e. h t m [ a c c e s s e d 2 Au g u st
2010]




                                                                    44
B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) B e l a r u s n a t i o n a l i t y , l a n g u a g e a n d
t r a d i t i o n s [ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . b el a r u s. b y / e n / a b o u t -
b e l a r u s / n a t i o n a l i t y [ a c c e s s e d 4 Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) B u s i n e s s cu s t o m s a n d e t i q u et t e i n B el a r u s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . b el a r u s. b y / e n / b u s i n e s s / b u si n e s s - c u st o m s
[ a c c e s s e d 4 Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) C l i ma t e a n d w e a t h er [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b el a r u s . b y / e n / a b o u t - b e l a r u s/ c l i ma t e - a n d - w e a t h er [ a c c e s s e d 2
Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) C u l t u r e [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b el a r u s . b y / e n / a b o u t - b e l a r u s/ cu l t u r e [ a cc e s s e d 2 Au g u s t 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) L a b o u r ma r k et i n B el a r u s [ O n l i n e ]
A v a i l a b l e a t h t t p : / / w w w . b e l a r u s. b y / e n / i n v e st / i n v e st m e n t - c l i ma t e / l a b o u r -
m a r k e t [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) G e o g r a p h y o f B e l a r u s [ O n l i n e ] A v a i l a b l e
a t h t t p : / / w w w . b el a r u s . b y / e n / a b o u t - b el a r u s/ g e o g r a p h y [ a c c e s s e d 2 Au g u st
2010]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) H i st o r y o f B el a r u s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b el a r u s . b y / e n / a b o u t - b e l a r u s/ h i s t o r y [ a c ce s s e d 2 Au g u s t 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) R e l i g i o n i n B el a r u s i n B e l a r u s [ O n l i n e]
A v a i l a b l e a t h t t p : / / w w w . b e l a r u s. b y / e n / a b o u t - b e l a r u s / r el i g i o n [ a c c e s s e d 4
Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) T h e B e l a r u si a n P a r l i a m e n t [ O n l i n e]
A v a i l a b l e a t h t t p : / / w w w . b e l a r u s. b y / e n / g o v er n m e n t / p a r l i a m e n t [ a c c e s s e d 2
Au g u st 2 0 1 0 ]




                                                                   45
B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) T h e b u si n e s s e n v i r o n m e n t i n B el a r u s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . b el a r u s. b y / e n / b u s i n e s s / b u si n e s s -
e n v i r o n m e n t [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) T h e C o u r t s y s t e m i n B e l a r u s [ O n l i n e]
A v a i l a b l e a t h t t p : / / w w w . b e l a r u s. b y / e n / g o v er n m e n t / c o u r t s [ a c c e s s e d 2
Au g u st 2 0 1 0 ]


B e l a r u s O f f i ci a l W eb s i t e ( 2 0 1 0 ) T h e P r e si d e n t [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b el a r u s . b y / e n / g o v er n m e n t / p r e si d e n t [ a c c e s s e d 2 Au g u s t 2 0 1 0 ]


B e l a r u si a n T e l eg r a p h A g e n cy ( 2 0 1 0 ) P r o f i t a b i l i t y o f B el a r u s‟ i n d u st r i a l
c o m p a n i e s r ea ch 1 0 . 1 % i n J a n u a r y - M a y [ O n l i n e ] A v a i l a b l e a t
h t t p : / / n e w s. b e l t a . b y / en / n e w s/ e c o n o m? i d = 5 5 9 1 3 4 [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


B e l a r u s T r a d e ( 2 0 1 0 ) T r a d e R e p o r t 2 0 0 9 -2 0 0 1 0 [ O n l i n e] A v a i l a b l e a t
h t t p : / / t r a d e p o r t . o r g / t s/ c o u n t r i e s/ b e l a r u s/ i sa / i n d e x . h t ml [ a c c e s s e d 2 Au g u st
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B e l y , Al i e s ( 2 0 0 0 ) . T h e c h r o n i c l e o f t h e W h i t e R u s s i a : a n e s s a y o n t h e
h i s t o r y o f o n e g e o g r a p h i c a l n a m e . M i n sk , B el a r u s : E n c y c l o p ed i x .


B i r g e r s o n , S u sa n n e M i c h el e ( 2 0 0 2 ) . A f t e r t h e B r e a k u p o f a M u l t i - E t h n i c
E m p i r e . P r a e g er : G r e e n w o o d , p . 1 0 1


B o e k e ma , F . a n d H . J . v a n H o u t u m ( 1 9 9 5 ) , „ R e g i o n a l E c o n o mi c
C o m p e t i t i v en e s s ; P o r t er & B e y o n d ‟ i n B ei j e , P . R . a n d H . O . N u y s ( e d s) ,
The D iamond: The Use fulness of Porter in Analyz ing Smal l Countr ies . D e
G a r a n t : L eu v e n - A p e n d o o r n .


B i z T r a d e S h o w ( 2 0 1 0 ) B e l a r u s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . b i z t r a d e s h o w s . c o m / b e l a r u s/ b e l a r u s -
t r a d e s h o w s . m p ? i n d u st r y = a g r i cu l t u r e - f o o d [ a c c e s s e d 1 Au g u st 2 0 1 0 ]




                                                                    46
Br ed ha l, P .C . Ab b ot , & M. R. R e e d s (E d s.), Co mp e tit iv e n e ss in
I n t e r n a t i o n a l Fo o d M a r k e t s ( p p . 3 7 -5 9 ) . O x f o r d : W e s t v i e w P r e s s.


C a r t w r i g h t , W . ( 1 9 9 3 ) , „ M u l t i p l e L i n k e d “ D i a m o n d s ” a n d t h e I n t er n a t i o n a l
C o m p e t i t i v en e s s o f E x p o r t - D e p e n d e n t I n d u st r i e s . ‟ M a n a g e m e n t
I n t e r n a t i o n a l R e v i e w , v o l . 3 3 ( S p e ci a l i s s u e) , p p . 5 5 -7 0 .


D a n i e l s, J . D . , R a d e b a u g h , L . H . , & S u l l i v a n , D . P . ( 2 0 0 1 ) . G l o b a l i z a t i o n a n d
B u s i n e s s . N e w Y o r k : P r e n t i c e H a l l . C h . 5 , p p . 1 0 7 -1 0 9 .


D a n i l e s, J . D . , R a d e b a u g h , L . H a n d S u l l i v a n , D . P ( 2 0 0 4 ) I n t e r n a t i o n a l
B u s i n e s s , 1 0 t h E d , P r en t i c e H a l l : N e w J er s e y


D e v e l o p m e n t . B Y ( 2 0 1 0 ) W h y O u t s o u r c e t o B el a r u s? [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . d e v el o p m e n t . b y / a d v a n t a g e / [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


D u n n i n g , J . H . ( 1 9 9 2 a ) , „ T h e C o m p et i t i v e A d v a n t a g e o f C o u n t r i e s a n d t h e
Acti vi ti es of T ra nsnat i ona l Cor porati ons‟. Transnational Corp orations,
v o l . 1 , p p . 1 3 5 -1 6 8 .


D u n n i n g , J . H . ( 1 9 9 2 b ) , „ T h e G l o b a l E c o n o m y , D o m e st i c G o v er n a n c e ,
S t r a t e g i e s a n d T r a n s n a t i o n a l C o r p o r a t i o n s : I n t er a c t i o n s a n d P o l i cy
I m p l i c a t i o n s ‟ . v o l . 1 , n o . 3 , p p . 7 -4 5 .


E c o n o mi c S y s t e m ( 2 0 0 9 ) B e l a r u s s h o u l d f o l l o w R u s si a ' s P a t h [ O n l i n e]
Avai la bl e at
h t t p : / / e c o n c1 0 . b u . ed u / e co n o m i c_ sy s t e m s / C o u n t r y _ c o mp a r i s o n s/ c o u c o m p _ fr
a m e _ l g . h t m [ a c c e s s e d 4 Au g u s t 2 0 1 0 ]


E c o n o m y W a t c h ( 1 9 9 4 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 4 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]




                                                                   47
E c o n o m y W a t c h ( 1 9 9 5 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 5 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 1 9 9 6 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 6 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 1 9 9 7 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 7 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 1 9 9 8 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 8 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 1 9 9 9 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 9 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 2 0 0 0 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -2 0 0 0 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 2 0 0 1 ) B e l a r u s E c o n o m i c S t a t i s t i c s a n d I n d i ca t o r s
[ O n l i n e] A v a i l a b l e a t h t t p : / / w w w . e c o n o my w a t c h . c o m / e co n o mi c -
s t a t i s t i c s / c o u n t r y / B el a r u s / y ea r -1 9 9 7 / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]


E c o n o m y W a t c h ( 2 0 1 0 ) B e l a r u s E c o n o m i c S t r u ct u r e [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . e c o n o m y w a t c h . c o m / w o r l d _ e c o n o m y / b e l a r u s / st r u ct u r e - o f -
e c o n o m y . h t m l [ a c c e s s e d 3 Au g u st 2 0 1 0 ]


E m b a s s y o f t h e r ep u b l i c o f B e l a r u s ( 2 0 0 7 ) F o r e i g n T r a d e o f B el a r u s i n
G o o d s [ O n l i n e] A v a i l a b l e a t




                                                                  48
h t t p : / / w w w . b el a r u s e m b a s s y . o r g / e c o n o mi c/ f o r ei g n _ t r a d e_ i n _ g o o d s_ 0 1 -
1 0 _ 2 0 0 7 . h t m [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


EM ea t (2 0 1 0 ) Н ов о с ти [O nl i ne ] Ava ila bl e a t
h t t p : / / w w w . e m ea t . r u / n e w . p h p ? i d = 2 0 7 [ a c c e s s e d 2 Au g u s t 2 0 1 0 ]


E n r i g h t , M . J . ( 1 9 9 2 ) , „ W h y L o ca l C l u s t er s a r e t h e W a y t o W i n t h e G a m e ‟ .
W o r l d L i n k , J u l y , Au g u st .


E u r o p ea n E c o n o m y ( 2 0 0 8 ) [ O n l i n e] A v a i l a b l e a t
h t t p : / / e c. eu r o p a . eu / e co n o m y _ fi n a n c e/ p u b l i ca t i o n s / p u b l i ca t i o n 1 2 6 7 8 _ e n . p d f
T h e e c o n o m i c a s p e ct s o f t h e e n er g y s e ct o r i n C I S c o u n t r i e s [ a c c e s s e d 2
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G a r y H a m el a n d C . K . P r a h a l a d ( 1 9 9 4 ) , C o m p e t i n g f o r t h e Fu t u r e :
Breakthrough Strategie s for Seiz ing Cont rol o f Your Indus try and C reating
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G l o b a l F i n a n c e ( 2 0 1 0 ) B el a r u s C o u n t r y R e p o r t : G D P d a t a a n d G D P
f o r e c a s t s; e c o n o m i c, fi n a n c i a l a n d t r a d e i n f o r ma t i o n ; t h e b e st b a n k s i n
B e l a r u s; c o u n t r y a n d p o p u l a t i o n o v er v i e w [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . g f ma g . c o m / g d p - d a t a - c o u n t r y -r e p o r t s/ 3 1 9 - b el a r u s - g d p - c o u n t r y -
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Hil l, C. W. L (2008) G lobal Bus iness Today , 5t h E d, M cG raw H ill : N ew
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IBank (2010) Как ое м я со м ы едим? [O nli ne] Avai la bl e at
h t t p : / / ci t a t a . u a / r u / s o c i e t y / k a k o e_ m y a s o _ m y _ e d i m . h t ml [ a c c e s s e d 5 Au g u st
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I n d e x M u n d i ( 2 0 1 0 ) B el a r u s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i n d e x mu n d i . c o m / b e l a r u s / [ a c c e s s e d 5 Au g u st 2 0 1 0 ]




                                                                   49
I n d e x M u n d i ( 2 0 1 0 ) I n f l a t i o n r a t e ( c o n su m er p r i c e s ) [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i n d e x mu n d i . c o m / b e l a r u s / i n fl a t i o n _ r a t e_ ( c o n su m er _ p r i c e s) . h t ml
[ a c c e s s e d 5 Au g u st 2 0 1 0 ]


I n v e st B e l a r u s ( 2 0 1 0 ) M a r k et a d v a n t a g e s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i n v e s t . b el a r u s . b y / e n / a d v a n t a g e s/ [ a c c e s s e d 2 Au g u st 2 0 1 0 ]


I n d e x o f E c o n o mi c F r e ed o m ( 2 0 1 0 ) B el a r u s [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . h er i t a g e. o r g / i n d ex / p d f / 2 0 1 0 / c o u n t r i e s / b el a r u s . p d f [ a c c e s s e d 2
Au g u st 2 0 1 0 ]


I n d e x M u n d i ( 2 0 1 0 ) B el a r u s G D P O f f i ci a l E x c h a n g e r a t e [ O n l i n e] A v a i l a b l e
a t h t t p : / / w w w . i n d e x mu n d i . c o m / b e l a r u s/ g d p _ ( o f f i ci a l _ e x c h a n g e_ r a t e) . h t m l
[ a c c e s s e d 5 Au g u st 2 0 1 0 ]


I n d e x M u n d i ( 2 0 1 0 ) B el a r u s G D P - r ea l g r o w t h r a t e [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i n d e x mu n d i . c o m / b e l a r u s / g d p _ r ea l _ g r o w t h _ r a t e . h t ml [ a c c e s s e d
5 Au g u s t 2 0 1 0 ]


I n d e x M u n d i ( 2 0 1 0 ) B el a r u s U n e m p l o y m e n t R a t e [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i n d e x mu n d i . c o m / b e l a r u s / u n e m p l o y m e n t _ r a t e. h t ml [ a c c e s s e d 5
Au g u st 2 0 1 0 ]


I n t e r a c t i v e I n v e st o r ( 2 0 1 0 ) ( A F X U K F o cu s) W . B a n k p r a i s e s B e l a r u s
e c o n o m i c p er f o r ma n c e, en e r g y e f f i ci e n c y [ O n l i n e] A v a i l a b l e a t
h t t p : / / w w w . i i i . c o . u k / n e w s / ? t y p e= a f x n e w s &a r t i cl e i d = 7 8 0 0 1 2 3 & su b j e ct = ma r
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L e v i n J o s h u a ( 2 0 1 0 ) 3 R ea s o n s C o m p a r a t i v e A d v a n t a g e d o e s n ‟ t a p p l y t o
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T h e W o r l d F a ct B o o k ( 2 0 0 7 ) B el a r u s [ O n l i n e] A v a i l a b l e a t
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h t t p : / / st a t . w t o . o r g / C o u n t r y P r o fi l e/ W S D B C o u n t r y P F V i e w. a s p x ? L a n g u a g e= E
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