Business news

3 Feb 2021

Belarus, Indonesia sign memorandum of cooperation in trade, economy

An archive photo

MINSK, 3 February (BelTA) – The National Marketing Center of the Belarusian Ministry of Foreign Affairs and Indonesia Trade, Tourism and Investment Club (ITTIC) signed a memorandum of cooperation and mutual support in the development of trade and economic relations during the Belarusian-Indonesian videoconference, BelTA learned from the press center of the National Marketing Center.

The event was held with the support of the Belarusian Embassy in Indonesia. The participants of the videoconference discussed bilateral cooperation in mechanical engineering.

“Indonesia is a crucial partner of Belarus in Southeast Asia. It is a rapidly growing economy, a member of G20. Indonesia is also a vast market with a population of over 275 million. The country boasts a well-developed manufacturing industry. We supplied BelAZ vehicles and other equipment to this market. Our task is to expand our economic presence in this region,” Director of the National Marketing Center Valery Sadokho said. “Indonesia is home to the headquarters of the Association of Southeast Asian Nations (ASEAN), a regional grouping of 10 countries. This document will give us legal instruments to revitalize our contracts, exchange information on export/import operations and deepen cooperation between our countries,” he added.

During the videoconference, the Indonesian partners got familiar with capacities of leading machine-building companies of Belarus and their offices in Southeast Asia, such as AMKODOR, BELAZIA PTE.LTD (office of BelAZ), MAZ Asia (office of MAZ) and Beltyre Asia Pte. Ltd. (office of Belshina). Belarus was also represented by the electric transport manufacturer Belkommunmash and the lift manufacturer Mogilevliftmash.

Experts noted that the Indonesian mining industry needs high-quality mining and other special-purpose machinery and is ready to engage in a dialogue with Belarusian partners.