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04 March 2024, 13:19

Belarus, Kazakhstan mull over fund for industrial cooperation

MINSK, 4 March (BelTA) - Belarus and Kazakhstan will discuss the possibility of setting up a joint bilateral fund for industrial cooperation, Ambassador Extraordinary and Plenipotentiary of Kazakhstan to Belarus Yerlan Baizhanov told the media after his meeting with Belarusian President Aleksandr Lukashenko in Minsk on 4 March, BelTA has learned.  

During the meeting, the ambassador shared his impressions of his trips around the regions of Belarus, emphasizing that he was impressed by the level of technological development and industrial potential of the country.

In his conversation with journalists, the diplomat spoke in more detail on the matter. In his words, Kazakhstan is interested in establishing cooperation with such Belarusian enterprises as Novus Industry from Mogilev (a complex of woodworking and furniture factories), Polimerkonstruktsiya from Vitebsk (a company that offers integrated solutions for water drainage and water supply).

"I see that in almost every region of Belarus there are several companies that we would like to see working in Kazakhstan,” Yerlan Baizhanov said. In his words, it is not just about trade supplies, but about localization of production. “This is a more long-term and fundamental cooperation. Therefore, we orient Belarusian partners to this approach,” the diplomat said.  

“We realize that this kind of investment projects needs more serious support from states, governments, financial institutions,” he continued. “It would be possible (and I have put forward such an idea) to create a joint bilateral fund for industrial cooperation. This was one of the ideas discussed today.”

There are 55 Kazakhstan-funded enterprises registered in Belarus, including 17 joint ventures and 38 foreign ones. In Kazakhstan there are more than 170 subjects of the commodity distribution network of Belarusian enterprises. The two countries implement cooperation projects on joint production of tractor, agricultural, automobile and trailer, fire and rescue equipment, as well as elevator equipment.

Belarus-Kazakhstan trade amounted to $1.1 billion in 2023, including Belarus' export at $867 million. Belarus supplies tractors, machines and mechanisms for harvesting and threshing crops, cheese and cottage cheese, milk and cream, sausages and meat products, furniture, semi-finished products made of non-alloy steel.
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