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31 March 2022, 18:55

Enterprises of Belarus, St Petersburg set up manufacturing cooperation union

MOSCOW, 31 March (BelTA) – Minsk-based and St Petersburg-based tractor factories as well as Gomselmash – the largest agricultural machinery manufacturers of Belarus and Russia – have declared the establishment of a union of industrialists titled as Progress. The ceremony took place on the sidelines of a Belarusian-Russian business forum in St Petersburg on 30 March, the press service of the Eurasian Economic Commission told BelTA.

These companies had previously signed a memorandum of cooperation with assistance of the industrial block of the Eurasian Economic Commission. The union intends to study the market situation, organize seminars and conferences, and submit proposals on improving national and supranational legislation.

Member of the Board (Minister) for Industry and Agriculture of the Eurasian Economic Commission Artak Kamalyan said that the establishment of the union is a significant event. It is a practical result of the systemic work the Eurasian Economic Commission does to advance manufacturing cooperation between enterprises of the Eurasian Economic Union member states.

Apart from that, within the framework of realization of the memorandum the heads of enterprises of Belarus and Russia signed in 2021 plans have been made to work out and implement promising projects in the sphere of production of machines and equipment for agriculture, forestry industry, housing and utilities industry. Interindustry cooperation and interstate cooperation will be advanced. Products will be promoted onto markets of third countries.

The document clearly stipulates that other market players can accede to the memorandum, the Eurasian Economic Commission said.

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