Business news
Belarus eager to team up with Egypt to penetrate markets of Africa, Middle East
MINSK, 3 September (BelTA) – Belarus intends to work together with Egypt in order to penetrate the markets of Africa and the Middle East, BelTA learned from Deputy Chairman of the Belarusian Chamber of Commerce and Industry Sergei Nabeshko during a Belarusian-Egyptian business meeting on 3 September.
The official said: “Egypt is a very interesting country. It offers a way to reach Africa and the Middle East. On the other hand, it is a hub where the Eurasian Economic Union intends to grab a foothold. Conditions for setting up a Russian economic zone in Egypt have been enabled. We are discussing at least joining the zone and later on setting up a separate territory where only Belarusian companies will be represented. No doubt we are interested not only in direct shipments and the establishment of assembly enterprises in Egypt but also in third countries, in working together with our partners from Egypt to reach the markets of continental Africa and the Middle East.”
The countries are now busy setting up a joint business cooperation council. The Belarusian part and the Egyptian one of the council have already been established. Director General of the Belarusian tractor company MTZ Vitaly Vovk will be the co-chairman of the Belarusian part. The date of the first session is still under consideration. The Belarusian Chamber of Commerce and Industry expects it will happen by the end of the year. The Federation of Egyptian Chambers of Commerce is the main partner of the Belarusian Chamber of Commerce and Industry. The fact that its management has changed is the only technical difficulty. The chambers of commerce need to step up cooperation in order to put together a quality agenda for the session of the business cooperation council.
Belarusian companies are intent on vigorously advancing relations with Egypt. Productive negotiations between the management of the Belarusian automobile manufacturer MAZ and Egyptian partners took place a short time ago. Concrete agreements were reached. “We are talking about upping the localization rate of manufacturing in Egypt and making products, which will be branded as Made in Egypt but will heavily rely on Belarusian components,” Sergei Nabeshko explained.
Today’s business meeting gathered over 80 representatives of the Belarusian and Egyptian private sectors. The companies of Belarus and Egypt are expected to negotiate possibilities for cooperation in the processing of food products, production of dairy products and juices, healthcare and pharmaceutics, textile industry, and agriculture. The event has been organized by the Belarusian Chamber of Commerce and Industry in association with the Egyptian Trade and Industry Ministry with assistance of the Belarusian Antimonopoly Regulation and Trade Ministry within the framework of the sixth session of the Belarusian-Egyptian trade commission.
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