Photo courtesy of the Economy Ministry
VLADIMIR, 30 May (BelTA) – Belarus and Russia show an increasing interest in mutual investments, Belarus’ Economy Minister Yuri Chebotar told reporters following a session of the working group on cooperation between the Republic of Belarus and Vladimir Oblast and talks with Vladimir Oblast Governor Alexander Avdeyev that were held in Vladimir on 30 May, BelTA has learned.
“Vladimir Oblast is our very consistent partner; our trade has been on the rise for years. Last year it exceeded $400 million. This year the growth is estimated at 16%,” the minister said.
“Trade is important, but investments are still the main thing. This is the foundation for cooperation as joint ventures are a guarantee that jointly produced goods will be sold. The last two years saw a significant increase in mutual investments. In the first quarter, Russia’s investments in Belarus grew by more than 20%,” the minister said. Belarus’ investments into the Russian economy are also on the rise.
“This suggests that economic entities trust the support mechanisms offered by Russia and Belarus, set up joint ventures and manufacture a joint product,” Yuri Chebotar remarked.
At the negotiations with the governor, the minister said that Belarus is ready to increase supplies of metal products, engines, and other products to the Russian region. Belarus is also interested in supplying passenger vehicles and elevators for apartment blocks. Belarus can also supply machinery and equipment for the region’s waste management program.
According to Yuri Chebotar, there are significant reserves to step up cooperation in agriculture and food production. Belarus suggests expanding the assortment of exports of food, agricultural raw materials and animal feed. In addition, Belarusian construction companies would like to be more broadly involved in the construction and major repairs of educational institutions and other social facilities, and road infrastructure.
“There are enough growth points to significantly boost cooperation between Belarus and Vladimir Oblast,” emphasized Yuri Chebotar.
“Vladimir Oblast is our very consistent partner; our trade has been on the rise for years. Last year it exceeded $400 million. This year the growth is estimated at 16%,” the minister said.
“Trade is important, but investments are still the main thing. This is the foundation for cooperation as joint ventures are a guarantee that jointly produced goods will be sold. The last two years saw a significant increase in mutual investments. In the first quarter, Russia’s investments in Belarus grew by more than 20%,” the minister said. Belarus’ investments into the Russian economy are also on the rise.
“This suggests that economic entities trust the support mechanisms offered by Russia and Belarus, set up joint ventures and manufacture a joint product,” Yuri Chebotar remarked.
At the negotiations with the governor, the minister said that Belarus is ready to increase supplies of metal products, engines, and other products to the Russian region. Belarus is also interested in supplying passenger vehicles and elevators for apartment blocks. Belarus can also supply machinery and equipment for the region’s waste management program.
According to Yuri Chebotar, there are significant reserves to step up cooperation in agriculture and food production. Belarus suggests expanding the assortment of exports of food, agricultural raw materials and animal feed. In addition, Belarusian construction companies would like to be more broadly involved in the construction and major repairs of educational institutions and other social facilities, and road infrastructure.
“There are enough growth points to significantly boost cooperation between Belarus and Vladimir Oblast,” emphasized Yuri Chebotar.
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