MINSK, 17 June (BelTA) - Belarus seeks to set up joint ventures in Egypt with a high degree of localization and to develop all-round bilateral relations, Belarus Prime Minister Sergei Rumas said as he addressed a meeting between Egypt President Abdel Fattah el-Sisi and representatives of the Belarusian business in Minsk on 17 June, BelTA has learned.
A Belarus-Egypt Business Council which is now being set up should play an important role in enhancing business contacts, Sergei Rumas said. He noted the great potential for interaction.
“In the past three or four years we have achieved successes in the field of industrial cooperation, have embarked on joint projects in science, technology and education. Today we strive to move from simple commodity trade to more diversified economic relations. We make an emphasis on integrated projects to set up joint ventures in Egypt with a high degree of localization targeting the markets of third countries,” Sergei Rumas said.
The prime minister outlined the production of trucks, farm machines, research in nanomaterials, molecular genetics among the areas of cooperation which are already gaining momentum. “Active work is ahead of us. I am sure that together we will be able to raise our relations to a qualitatively new level,” Sergei Rumas said.
The Belarusian prime minister stressed that the current visit of the delegation from Egypt, a country which is an important partner in Africa and the Middle East, is of historic importance for bilateral relations. “I am sure that the talks and the meeting will be fruitful and successful. You will take a closer look at the economic and scientific and technological potential of Belarus, traditions and rich cultural heritage of our people,” Sergei Rumas noted.
For his part, Abdel Fattah el-Sisi thanked Belarus for warm welcome and support in the international arena. He stressed that this visit should give additional impetus to cooperation.
Today's meeting has brought together representatives of almost 40 major enterprises and organizations that already have experience with Egyptian partners, head of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich informed. “This is an unprecedented example when the leader of a foreign state meets with representatives of our business for the second time in two year,” he said. The first such meeting took place in 2017 and drew more than 700 people. “Then the presidents of the two countries made it clear that the political will plays a big role in the development of a mutually beneficial partnership in various fields,” Vladimir Ulakhovich added.
In the past two years the Belarusian-Egyptian trade almost doubled – from $57.8 million in 2016 to $108.7 million in 2018. The export of Belarusian products nearly doubled as well – from $43.3 million to $83 million. Major trade indicators improved in January-April 2019 year-on-year. The trade turnover made up $50.32 million (up 45%), Belarus' export reached $35.26 million (up almost 72%).
Belarus' major exports to Egypt include metal products, tractors, freight vehicles, potash fertilizers, tires, and timber. Belarus' major imports from Egypt are citrus fruit, vegetables and fruit, medications, clothes and textiles.
Belarus and Egypt are currently mulling over and implementing over 15 joint projects in manufacturing, agriculture, science, personnel training. Belarus helps Egypt to increase the industrialization level, upgrade technologies and create new jobs. A joint project to produce MAZ equipment was launched in February 2018. A multi-industry enterprise in Alexandria makes Belarus tractors, Gomselmash grain harvesters and other agricultural equipment. The factory produced 302 tractors and created 40 new jobs last year. Assembly lines for Amkodor loaders and Bobruiskagromash farming equipment were launched jointly with the Egyptian Ministry of Military Production.
