Business news

MOSCOW, 20 December (BelTA) - Automotive companies of Belarus and Russia's Nizhny Novgorod Oblast will sign a cooperation program to increase the production and supply of automotive components, Acting Governor of Nizhny Novgorod Oblast Gleb Nikitin said following a meeting with Belarus’ Industry Minister Vitaly Vovk, BelTA learned from the press service of the Belarusian Embassy in Russia.

The meeting discussed the areas for the development of bilateral cooperation. Mechanical engineering, supply of farm machines, utility vehicles and elevators have bee outlined as the most promising avenues of cooperation.

According to Gleb Nikitin, Belarus and Nizhny Novgorod Oblast are approaching $1 billion in the bilateral trade. “We now see a significant increase in the bilateral trade. In January-October 2017 it increased by 49% to exceed $800 million. We are really well-positioned to hit the mark of $11 billion in the bilateral trade by the year-end 2017,” he said.

“The symbolic figure of $1 billion is only the beginning. In view of the areas of cooperation that we discussed today I am sure that the trade will be growing in the nearest future. This means new jobs at our enterprises and better quality of life of our citizens,” Belarus’ Industry Minister Vitaly Vovk said.

Gleb Nikitin and Vitaly Vovk reviewed the exposition of Belarusian machinery at the Nizhny Novgorod Fair and opened a seminar-meeting where representatives of Amkodor, MTZ and MAZ presented their utility vehicles to the participants of the meeting.

The seminar was attended by about 250 representatives of ministries and departments of Nizhny Novgorod Oblast, Nizhny Novgorod city administration, a number of municipalities of Nizhny Novgorod Oblast, commercial organizations and enterprises of the region.