Trade Policy Modelling in Belarus

The Project at A Glance

Belarus as a Member of the Eurasian Economic Union (EAEU) adopts a trade policy that is aligned with Armenia, Kazakhstan, Kyrgyzstan, and Russia. Being in the Customs Union, the EAEU Member States have a common external tariff and coordinate their trade policies. Belarus is also engaged in the process of acceding to the WTO. While trade liberalisation can generate significant benefits for a country’s economy, if managed poorly, trade liberalisation can create widen inequality gaps within society. Therefore, a strong understanding of trade agreements is crucial when navigating long-term international trade agreements.
In this context, it is crucial for Belarus to have a clear understanding of the possible benefits and consequences that might arise from the implementation of specific FTAs, in terms of the impact it can have on the economy, sectors, society and the environment. International Economics Consulting Ltd. (IEC) thus examined the tools of trade policy analysis and improved the use of research skills in trade policy modelling analysis among governmental authorities involved in policymaking. The project’s overall objective is to examine the tools of trade policy analysis and improve the use of research skills in trade policy modelling analysis among governmental authorities involved in policymaking.

Our Strategy and Impact

The project was geared at building the capacity of officials engaged in trade or policy preparations to undertake economic modelling in order to assess different policy choices based on objective criteria. The training provided under this project was ambitious and covered a range of topics. Some of the other activities undertaken by the team included:

Data analysis to find new markets and goods for potential export
Examining methods to identify the elasticity and sensitivity of the product/industry
Providing training on simulation tools in case of product-specific tariff changes
Elaborating guidelines for the evaluation of benefits and risks of FTAs

A resource guide was produced by the team and consisted of narrative introductions and additional clarifications, along 4 major sections namely:

Basic sources of information and databases and their useful facilities
Simulation in product-specific tariff changes and quantitative analyses of their implications
Tools for assessment and analysis of benefits and risks of FTA
Tools for the analysis of trade liberalization in services.

The team presented the resource Guide in Minsk to the Ministry of Economy on 28-29 January 2019.

Our Core Solutions

With the rapid proliferation of trade agreements worldwide, there are new market and investment opportunities for countries to explore. At International Economics Consulting, based on our extensive experience in international trade, we assist our clients by providing a detailed analysis of the key impacts of new trade agreements on their operations and competitiveness through an assessment of tariff, and non-tariff barriers, provisions on rules of origin, customs efficiency, the effectiveness of transport networks, and sustainability provisions, among others.
We can help assess the opportunities in different markets, determine the feasibility and viability of projects, and benchmark the wider ecosystem to support business growth. We also support clients in navigating the policy landscape regarding international trade by establishing robust monitoring and evaluation framework through sophisticated real-time dashboards and reporting systems to ensure the best outcomes.