Business news

MINSK, 19 December (BelTA) – Belarus and China reached an agreement on major joint projects during an industrial forum of Belarusian and Chinese business circles in Shenyang, Liaoning Province, representatives of the Belarusian diplomatic mission in Beijing told BelTA.

The forum gathered over 150 representatives of industrial enterprises from China’s northeast. Belarusian companies presented their export capabilities and investment opportunities.

The Belarusian delegation was led by Deputy Industry Minister Alexander Ogorodnikov and included Ambassador of Belarus Kirill Rudy, representatives of export companies and the China-Belarus industrial park Great Stone. Members of the delegation met with representatives of the Liaoning Province administration and representatives of major Chinese companies. Arrangements on future cooperation were made. Bilateral documents were signed.

The Belarusian agricultural machinery manufacturer Gomselmash and Zongshen-Gomel Company signed a program on manufacturing machines together in China in 2018 to the tune of up to $7 million.

The Belarusian tractor maker MTZ and Zongshen Corporation agreed to establish a joint venture in 2018. An agreement was reached on trialing, certifying and selling $7.5 million worth of powerful tractors to China in 2018-2019.

The Belarusian haul trucks manufacturer BelAZ and Sanjiang Corporation reached an agreement on selling components. Bobruiskagromash and the Chongqing-based agricultural machinery manufacturer Zongshen-Gomel intend to trial two kinds of balers to get them certified in China. An agreement on trialing and certifying Bobruiskagromash trailers and feed dispensers was reached with the Chinese companies Dongjin and Zoomlion. The Belarusian automaker MAZ and Fast Group Company agreed to start working on making transmission gearboxes in Belarus.

The presentation of the Belarusian industrial sector during the forum was the first one of a kind in China in the last few years. Despite efforts of both countries Belarus’ industrial export to China went down from $66.1 million in 2012 to $24.3 million in 2016. The reached agreements allow one to expect that products by MTZ, BelAZ, and Bobruiskagromash will return to China and that Gomselmash will export more to China.

The forum was arranged by the Embassy of Belarus in China with assistance of the Liaoning Province administration and the China Development Bank.