Trade and Investment

The EU is Belarus's second largest trade partner. Britain plays an important part in this relationship.

The UK is the second-largest investor in Belarus. The City of London provides financial services to Belarusian companies, including loans, insurance and reinsurance. The Investment Forum in London in November 2008 offered a further opportunity for UK investors and Belarusian companies to deepen their relationship. In 2007 the total UK-Belarus trade turnover was $1.7bn. About 95% of this turnover is refined oil products. But there are signs of growing interest from a broader range of companies in deepening the trade and investment relationship.

An Investment Promotion and Protection Agreement, signed in March 1994, came into force in December 1994. A Soviet-era double taxation agreement remains in force.