OREANDA-NEWS. Chances are Belarusian exporters of agricultural products will increase their export earnings to USD 7 billion in 2015, despite the fall of the Russian ruble against global currencies.

Belarusian Prime Minister Mikhail Myasnikovich made a statement to this effect while visiting the international food industry fair Prodexpo 2014, the government's press-service said.

Belarus' food export companies will have to work hard this year to reach the 2014 earnings target, which stands at USD 6.2 billion, the premier said. Although Belarusian food exports increased significantly in terms of quantity, in value terms exporters do not earn as much because of the devaluation of the Russian ruble.

The premier admitted that the share of food imports in Belarus is fairly high. "There are still rather many imports on the home market, which analogues are manufactured by our enterprises," Myasnikovich said.

The premier also acknowledged that the choice of products made by Belarusian companies was growing noticeably larger, with their quality getting better. "Therefore, I have all reasons to believe that the import component will go down without damaging quality," the premier said.

Speaking of the factors that undermine the ability of Belarusian-made products to compete on foreign markets, Myasnikovich mentioned high interest rates on credits. The high cost of borrowed resources upsets the economy of manufacturing companies and puts the brakes on the import substitution mechanism, the premier said.