Business news

28 Mar 2019

Belarus’ Gomel Oblast, India to cooperate in pharmaceuticals, food industry

GOMEL, 28 March (BelTA) – Belarus’ Gomel Oblast and India plan to develop cooperation in pharmaceuticals and food industry, Ambassador Extraordinary and Plenipotentiary of India to Belarus Sangeeta Bahadur told the media after the meeting with Gomel Oblast Governor Vladimir Dvornik on 28 March, BelTA has learned.

Sangeeta Bahadur named the main goals of her visit to the region, which included the familiarization with the area and the potential for further interaction in business and trade relations. “At the meeting with the governor we discussed the production of medications, processing and packaging of food products,” said the ambassador. The parties also discussed the possibility of allocating unused property in Gomel Oblast to Indian companies, including for coproduction with the third-country market in mind.

The ambassador named science and technology among the promising areas for cooperation. “We would like to consider Belarus in this area not as a rival but as a partner. If we unite, we will be able to do a lot for each other and for third countries,” she said.

Vladimir Dvornik conveyed an invitation to Sangeeta Bahadur to attend the Gomel Economic Forum, stressing that the potential for cooperation between the two parties was huge. He expressed confidence that the participation of Indian businessmen in the forum would enhance the interaction and open new growth points.

Last year, the trade between Gomel Oblast and India amounted to $5.3 million (up 21.2%). Exports stood at $0.8 million and were mainly represented by the products of the BMZ, Solnechny Les (timber), and Svetlogorsk-Khimvolokno (carbon fiber). The main imports included catalysts, medicines, artificial fibers, synthetic threads and dyes, ferroalloys and bearings. The export of services to India exceeded $1.2 million in 2018.

The Gomselmash-India joint venture was registered in India in July 2017. A memorandum of understanding between Belorusneft and Oil India Ltd was signed in 2015. A number of joint projects have already been implemented. The work is currently underway to conclude new contracts in the field of recoverable oil. The parties are working out cooperation prospects with India’s ONGC and Cairn India. Memorandums of understanding were also signed between the Gomel Office of the Belarusian Chamber of Commerce and Industry and the Chamber of Commerce and Industry of Maharashtra, as well as the Indian Chamber of International Business.

The parties intend to continue cooperation in the social sector. More than 220 students from India are currently studying at the Gomel State Medical University. Francisk Skorina Gomel State University has been implementing joint projects with the Hindustan College of Science and Technology (Uttar Pradesh).