Business news

MINSK, 9 October (BelTA) – Belarus is interested in expanding trade and economic cooperation with Venezuela and in implementing new projects. Deputy Prime Minister of Belarus Vladimir Semashko made the statement on the air of the TV channel Belarus One, BelTA has learned.

The roadmap on Belarus-Venezuela cooperation will be adjusted upon instructions of the two presidents. Building up partnership in the manufacturing sector is supposed to become one of the priorities of the new document. In particular, the roadmap provides for increasing the output of Belarusian factories in Venezuela. “They should operate at full capacity,” stressed Vladimir Semashko. “The roadmap also envisages new factories, which we intend to build together.”

So far Belarus has built four factories in Venezuela. They make ceramic blocks, tractors, utility vehicles, and road construction machines. However, the enterprises have not reached their designed output capacity yet. Ways to make sure the enterprises operate at full capacity were discussed during a recent visit of the Venezuela president to Minsk. Vladimir Semashko reminded that there are plans to sell at least 50% of their output in Venezuela and export the rest.

While putting together the strategy for the future development of the economy, Venezuela came up with a national program, which includes 15 branches, including projects in the manufacturing sector and agriculture. Belarus can help implement those projects.

Prospects of Belarus-Venezuela partnership will be discussed at a session of the bilateral intergovernmental commission in Minsk in November. “We should get ready the cooperation roadmap by late November at the latest. The commission will give the final look to all the points of this roadmap so that the document could be finalized and submitted to the head of state,” said Vladimir Semashko.