CHEREPOVETS, 13 October (BelTA) – The exports of the Belarusian mechanical engineering products to Russia have soared more than 50% from the start of the year, Belarus' Deputy Industry Minister Alexander Ogorodnikov told the media in Cherepovets, BelTA has learned.
“According to the preliminary results, in January-September 2017 Belarus' mechanical engineering exports went up by 25%. The growth of exports to Russia, which is our main market, exceeded 50%. This shows that we continue to be on a solid footing on the Russian market and withstand competition against all major western brands that are present in Russia,” Alexander Ogorodnikov said.
According to the deputy minister, mechanical engineering products are sophisticated investment goods, which is the main reason behind the current export growth. “In the times of crisis companies try to do with the equipment they have. When our potential consumers see that their products are gaining foothold on the market, they decide to invest, acquire new equipment. This is why we have such results today,” he said.
According to Alexander Ogorodnikov, imports from Russia have increased as well. “Let's take tractors for example. We import not only materials such as steel but also many components, joints from Russia. This applies not only to tractors but also to other agricultural machinery, automotive equipment,” the deputy minister stressed.
Alexander Ogorodnikov took part in the opening of a new line to assemble 120hp Belarus tractors at Cherepovets Foundry and Mechanical Plant. His meeting with Belarusian and Russian journalists was held as part of the press tour “Vologda Region - the largest machine-building cluster of Russia and Belarus” organized by the Union State Standing Committee and the international news agency Russia Today.More about Economy