Business news

MINSK, 29 August (BelTA) – Belarus can participate in the development of oil fields on the Caspian Sea shelf in Russia. Prime Minister of Belarus Sergei Rumas made the statement as he met with Governor of Russia’s Astrakhan Oblast Alexander Zhilkin on 29 August, BelTA has learned.

Sergei Rumas said: “The Belorusneft enterprise has vast experience of geologic exploration and oil extraction. It can get involved in the planned development of raw hydrocarbon deposits on the Caspian Sea shelf.”

In 2017 Belarus’ trade with Astrakhan Oblast rose by 40% from 2016 to nearly $30 million. In H1 2018 the bilateral trade already exceeded $20 million, 56% up. “The figures are definitely good. But the potential of Belarus’ cooperation with Astrakhan Oblast can be so much higher. We have something to offer to each other,” believes the prime minister.

Belarus is interested in expanding cooperation with Astrakhan Oblast in agribusiness. Belarusian companies can offer a broad choice of products to Astrakhan Oblast farmers, including using financial mechanisms for export support (preferential-rate loans, leasing schemes). There are plans to set up a trade and service center of the Belarusian tractor maker MTZ in Astrakhan Oblast. It will allow making Belarusian tractors and equipment more affordable for Astrakhan Oblast farmers. Belarus is ready to advance cooperation in crop husbandry, seed farming, and dairy cattle husbandry. Belarus is interested in buying fish and raw fish materials from Astrakhan Oblast as well as early potato, vegetables, melons and gourds, and lamb meat. Apart from that, Belarus is interested in the experience of sheep breeding and sturgeon farming.

According to Sergei Rumas, Belarusian passenger vehicles are now used in many regions of Russia. Such vehicles can be sold to Astrakhan Oblast, too. Buses, trolleybuses, and electric buses were mentioned. The Belarusian mechanical engineering company Amkodor is ready to sell road construction and maintenance machines.

Cooperation between the free economic zone (FEZ) Vitebsk and the special economic zone (SEZ) Lotus can be promising. Companies, which reside in these zones, have signed memorandums of cooperation. There is a mutual interest in trade.

Belarus is also ready to advance interaction in science, healthcare, education, and tourism.