Business news

MINSK, 29 June (BelTA) – Belarus is increasing its trade with Egypt and considering setting up new joint ventures, Belarusian Ambassador to Egypt Sergei Rachkov said in an interview with the Egyptian news agency MENA.

The diplomat said that the visit of Belarus President Alexander Lukashenko to Egypt in January 2017 took the bilateral relations to a new level and gave a considerable impetus to the cooperation in all fields. The head of state had a number of meetings. The roadmap for bilateral cooperation for 2017-2018 was initialed as part of the visit.

In January-April 2017, the trade between the two countries doubled. Belarus exported to Egypt metal products, tractors, x-ray equipment, oil products, dairy products, vehicle parts and accessories, and bearings. In May 2017, the countries signed the first contract to supply Belarusian rye flour to Egypt. Negotiations are underway on supplies of poultry meat, beef, rye flour, pasta, and canned vegetables.

The countries are working to develop the legal framework of cooperation in investment.

The ambassador said that a Belarusian delegation led by the first deputy agriculture and food minister will visit Cairo to consider agricultural projects and food supplies to Egypt. The Transport and Communications Ministry plans to send a delegation to explore the opportunities for cooperation and exchange of the best practices in railroad and road transport.

Plans have also been made to hold talks on the project to build a wastewater treatment facility using Belarusian technologies in Egypt. Work is underway to prepare visits of representatives of the Belarusian white goods manufacturer Atlant, tire maker Belshina, and agricultural machines manufacturer Bobruiskagromash to consider establishing joint ventures to make compressors, tires, and agricultural machinery at the enterprises of the Egyptian Ministry of Military Production.

Minsk will host a number of Egyptian delegations. One of them will come to discuss matters of military and technical cooperation. “The talks at the level of ministries and enterprises are aimed at laying the foundation for the return visit of Egyptian President Abdel Fattah el-Sisi to Belarus. Preparations for the visit are underway,” Sergei Rachkov noted.

As he commented on the most important projects to be carried out in the near future, the ambassador noted that a major project is running to set up joint production of MAZ vehicles at one of the enterprises of the Egyptian Ministry of Military Production. The venture is scheduled for launch in August or September 2017.

The mechanical engineering company Amkodor is set to establish a joint enterprise to manufacture loaders with the Kader Factory for Developed Industries.

The Belarusian agricultural machines manufacturer Gomselmash delivered the first grain harvester to Egypt in May 2017. Once the vehicle is tested and certified, the countries will consider the possibility of joint production of harvesters.

Minsk Motor Plant maintains cooperation with Helwan Diesel Engines Factory to set up a joint venture to make diesel engines.

Besides, the countries are mulling over a joint venture to produce Mogilevliftmash elevator equipment in Egypt.

“There are promising projects in agriculture. The Belarusian side may be invited to participate in the project to use 1.5 million hectares of arable land and set up a pilot meat and dairy farm, and to build greenhouses in Egypt,” Sergei Rachkov noted.

Belarus and Egypt are considering joint projects to produce glass medicine bottles, concentrated sulphuric acid, medical solutions and pharmaceuticals, cosmetic and personal hygiene products, plastic medical syringes, and dialysis equipment. The Egyptian company KEMICO is mulling over a joint plant to make products for medical use in Belarus.

The Egyptian company for space application and remote sensing and the R&D enterprise Geoinformation Systems of the National Academy of Sciences of Belarus are working together to build a spacecraft for monitoring the Egyptian territory from the space.

The Federation of Egyptian Chambers of Commerce and the Egypt Expo and Convention Authority have plans to set up a permanent exhibition of Egyptian products in Minsk.

There are also opportunities for joint projects in drilling deep-water wells, waste treatment, and mineral prospecting and exploration in Egypt.

“We believe that the free trade agreement between the Eurasian Economic Union and the Arab Republic of Egypt will raise the bilateral trade and economic cooperation to a new level. The talks on the draft of the agreement will begin in the near future. The Belarusian side is ready to make every effort for speedy adoption of this important document,” Sergei Rachkov added.