Business news

MINSK, 10 April (BelTA) – Belarus’ industrial output grew by 10.3% in January-February 2018 versus the same period a year prior, Deputy Prime Minister Vladimir Semashko told journalists on 10 April, BelTA informs.

“Last year our industry recovered from recession and grew by 6.1%, which contributed to GDP growth. The beginning of this year also was a success. In January-February, our industrial output went up by 10.3%. Thanks to this, Belarus’ GDP beat the growth forecast of 5.6% for the two months,” Vladimir Semashko added.

He pointed to the rapid development of mechanical engineering. “In many countries, Belarus is associated with such brands as MAZ, MTZ, BelAZ, and Gomselmash. We have put money into the mechanical engineering industry, and we have certain results. For instance, BelAZ has become the world’s second largest supplier of haul trucks. The company has a good profit margin,” the official said.

He took part in the opening of an industry and technology forum running in the Minsk Football Indoor Center from 10 to 13 April. The forum comprises the international exhibitions Mechanical Engineering 2018, Welding and Cutting, Litmetexpo, and Corrosion Protection. Coverings. They are dedicated to wide-ranging industrial technologies in mechanical engineering, metal processing, saving resources, welding equipment and materials, and foundry engineering. The forum has brought together some 200 companies from 19 countries: Belarus, Belgium, Georgia, Russia, Austria, the UK, Israel, Italy, China, Germany, Latvia, Lithuania, Estonia, Poland, the USA, Ukraine, Czechia, Switzerland, and Estonia.

The deputy prime minister said he hopes the participants of the exhibitions will work productively and will sign contracts. “We welcome investors. We have created the necessary legal framework for them,” Vladimir Semashko added.

German manufacturers have showed a keen interest in the exhibitions. Collective exhibitions have been arranged by members of the foundry associations of the UK and Poland.