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Belarusian BelAZ ready for tighter manufacturing cooperation in Eurasian Economic Union
Photo courtesy of BelAZ
MINSK, 19 March (BelTA) – BelAZ’s participation in projects designed to develop manufacturing cooperation and import substitution within the framework of the Eurasian Economic Union (EAEU) was discussed as Member of the Board (Minister) for Industry and Agribusiness Complex of the Eurasian Economic Commission Artak Kamalyan visited the Belarusian automobile engineering company BelAZ on 19 March, BelTA has learned.
During a tour of the key manufacturing sites of the company BelAZ Director General Sergei Nikiforovich talked about the current state of affairs, about export dynamics, the geography of sales. The executive noted that manufacturing cooperation and foreign trade cooperation are the key factors that turn BelAZ’s attention to Eurasian Economic Union markets.
Sergei Nikiforovich said: “Eurasian Economic Union member states are strategic partners for us not only within the framework of trade relations but within the framework of manufacturing cooperation and the development of innovative projects. Our vehicles are a joint product of enterprises of all the Eurasian Economic Union member states. We are glad they are sold not only in the Eurasian Economic Union but third countries, too.”
The Eurasian Economic Union accounted for 45.2% of BelAZ’s total trade turnover in 2020 and for 71.8% in January-February 2021. BelAZ vehicles are used virtually in all the branches of the production sector of the Eurasian Economic Union where solid mineral resources are mined such as coal industry, ore mining, mining-and-chemical industry, rock and aggregates industry, precious metals and stones industry.
The conversation also touched upon BelAZ’s long-term manufacturing cooperation with Russian partners and the creation of innovative mining machines for the Eurasian Economic Union market, including robotized haul trucks and vehicles powered by alternative sources of energy. BelAZ’s key partners in Russia are Kuzbassrazrezugol, Stroyservis, Siberian Coal Energy Company (SUEK), Mechel, Metalloinvest, Severstal, Alrosa, and other ones.
Components imported from Russia account for about 40-50% of the foreign components BelAZ imports in cost terms.
It was stressed during the meeting that opportunities for cooperation are far from exhausted, their potential is huge. BelAZ actively builds up manufacturing capabilities and is ready for tight cooperation with companies from other Eurasian Economic Union member states. Member of the Board (Minister) for Industry and Agribusiness Complex of the Eurasian Economic Commission Artak Kamalyan noted: “In 2021 our attention will be focused on advancing cooperation in high-tech industries. Unmanned driving technologies are a promising direction of industrial cooperation within the framework of the Eurasian Economic Union. BelAZ is a pioneer in this field.”
The official praised standards and the scale of manufacturing of BelAZ mining vehicles. They allow the company to make products that meet the toughest requirements of the world market. “I am greatly impressed by the enterprise. The power of these giant mining vehicles is inspiring. I think BelAZ has an excellent future. It is such modern enterprises that will remain competitive not only on the market of the Eurasian Economic Union but on the markets of third countries,” Artak Kamalyan stressed.
Participants of the meeting discussed prospects and possible directions of future manufacturing cooperation on a mutually beneficial basis and the participation of BelAZ in programs and projects of the Eurasian Economic Commission, which are of considerable importance for the development of industrial integration within the framework of the Eurasian Economic Union.
The public joint-stock company (OAO) BelAZ is the managing company of the holding company BelAZ. BelAZ is the world's leading manufacturer of haul trucks and transport equipment for mining industry and civil engineering industry. BelAZ accounts for some 30% of the world market of haul trucks with an extremely large carrying capacity. The company makes the world’s largest haul truck with the carrying capacity of 450 tonnes.
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