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“The idea is to set up a furniture industry cluster in Belarus by attracting large businesses eager to make long-term investments and develop operations on the territory of an EEU member state. The Belarusian furniture industry has great development potential,” Ruzhena Novitskaya emphasized.

She pointed out that the core of the cluster will be located in Belarus, in the town of Rechitsa. It will comprise the facilities to manufacture chipboard, medium density fiberboard and high density fiberboard, plywood, and other furniture-making materials. “According to expert estimates, the project will require an investment of some $25 million. The expected payoff period is three years if there is a 8-15% return on sales,” Ruzhena Novitskaya said.

“There are plans to produce furniture for different uses. Major consumers will be Belarusian population, organizations, manufacturing enterprises, education and healthcare establishments, and tourist sites. The cluster will include enterprises to make furniture fittings, glass, and packaging,” the spokesperson said.

The business matchmaking session took place in the city of Inegol which is one of the centers of the Turkish furniture industry. Partaking in the session was Bellesbumprom Chairman Yuri Nazarov, representatives of a number of Belarusian furniture-making enterprises and Turkish companies interested in the project.