OREANDA-NEWS. April 14, 2014. Belarus is in negotiations with the Eastern and Southern African Trade and Development Bank (PTA Bank) requesting assistance for trade promotion and investments in Africa. The matter was discussed at the meeting of Belarus President Alexander Lukashenko and PTA Bank CEO Admassu Tadesse.

According to Alexander Lukashenko, Belarus has been taking care of developing cooperation with African countries for about ten years already. “We are ready to work with Africa. Moreover, we have the experience of the Soviet times to rely on. We will sell our merchandise to Africa and set up joint ventures for manufacturing relevant products. We will invest in Africa,” the Belarusian head of state said.

“It will be difficult to accomplish without the assistance of financial institutions. Your good knowledge of Africa appeals to me. Your bank has worked there for a long time in a fair, open, transparent, and just manner. I think that we will be able to find areas of common interest. Neither you nor I will regret our starting this cooperation,” the Belarusian leader noted.

“If you help us reach Africa, I think the bank will only benefit from it,” Alexander Lukashenko said.

In turn, Admassu Tadesse thanked the Belarusian side for the interest in the PTA Bank and said he was confident that cooperation will be mutually beneficial. “Belarus has been known in Africa for a long time and some Belarusian brands enjoy proper recognition. We have already held some meetings. Our shareholders and the governments of our countries are interested in restoring new partnering relations, including in your region. We are interested in establishing new bridges, in opening new opportunities,” he said.

Africa develops fast but strong and reliable partners are needed for future development, Admassu Tadesse added.

The Eastern and Southern African Trade and Development Bank (PTA Bank) was established on 6 November 1985 in line with the agreement on creating a preferential trade zone for Eastern and Southern African countries. Later on the zone was converted into the Common Market for Eastern and Southern Africa (COMESA).

The PTA Bank focuses on assisting the foreign trade of COMESA member states, providing trade and project financing or payment guarantees for foreign trade operations. The Bank also provides consulting and other non-financial products and services to the PTA Bank shareholders. The Bank finances infrastructure projects in power engineering, road construction, electric communication development, and other things. Apart from that, the Bank provides project funding for state-owned and private African enterprises that operate in the areas of mechanical engineering, agriculture, food industry, real estate, the production of rubber and plastics, extraction and processing of mineral resources, including oil.