Belarus hopes to cooperate with China on swap deal

Belarusian Vice Premier Anatoly Tozik said on Tuesday that Belarus hopes to cooperate with China on the swap deal, which will support and coordinate bilateral trade and investment.

"We reached an agreement today at meeting of the Cabinet of Ministers presidium that we will attempt to work out mechanism so that these resources can start working in the coming months," Tozik told local media.

He noted that Belarusian National Bank and the People's Bank of China singed a 3 billion U.S. dollars in equivalent swap-agreement in 2009.

The two banks signed the agreement for currency swaps in order to support and coordinate bilateral trade and investment, which would, in turn, assist economic development in the two countries.

The trade ties between Belarus and China have been developing rapidly in recent years.