Business news

"Russia’s First Deputy Minister of Industry and Trade Gleb Nikitin and director of the machine and investment machinery department Aleksei Mikheyev visited Minsk Machine-Tool Plant (MZOR) to discuss a wide range of issues of cooperation. The Belarusian side was headed by Industry Minister Vitaly Vovk,” the press service noted.

The parties agreed to establish a single engineering company to develop machine-tool competencies in the Union State. It will include the Industry Development Fund, Stan Group, Moscow State technology University Stankin (on behalf of Russia) and Belstankoinstrument Holding Company and Kozlov Minsk Electrotechnical Plant (on the part of Belarus).

At the same time a decision was taken to develop a strategy for the development of the machine-tool industries of the two countries.

"Combining the machine-tool competencies of Russia and Belarus will give an additional impetus to the development of the common scientific-technical and production base, and the deepening of interaction. An example of such cooperation could be the joint development of new types of products with the state support provided by the Russian and Belarusian governments,” the Ministry of Industry and Trade of the Russian Federation said.