Latin America is one of the political and economic centers of the emerging multipolar world, home to more than 650 million people. Many countries of this region are aimed at pursuing an independent foreign policy and seek to move away from the historically raw material-based nature of their economies through accelerated innovation development. The Republic of Belarus can provide effective assistance to these countries by developing the most concrete trade and economic interaction. The nomenclature of Belarusian exports to this region includes potash fertilizers, means of land transport, ferrous metal products, chemical and petrochemical products, instruments and optical devices, and dairy products. Belarus also has positive production experience in Latin America. These include participation of Belarusian companies in geological and seismic exploration, mining, and construction projects in a number of countries. It is envisaged to further increase the volume of trade and investment through the implementation of joint cooperation projects to move from simple trade to the creation of joint ventures and assembly plants. This is the subject of this study.