Business news

MINSK, 20 December (BelTA) – Malaysia is considering buying vehicles from the Belarusian company Minsk Tractor Works (MTZ) for the sake of working rice fields. The possibility was discussed during the meeting of MTZ executives and a Malaysian delegation led by Speaker of the House of Representatives of the Malaysian parliament Pandikar Amin Mulia on 20 December, BelTA has learned.

The Speaker was interested in which countries buy such MTZ vehicles. MTZ Acting Director General Yuri Pototurko said that in 2016 MTZ shipped a number of its vehicles to Indonesia for testing. The vehicles are designed to work rice fields. So far the feedback has been positive. The Belarusian company intends to sell such vehicles to Vietnam and Cambodia, too.

Members of the Malaysian delegation expressed interest in resuming the delivery of a wide range of MTZ agricultural machines to Malaysia.

The Malaysian delegation visited the exhibition of machines and vehicles OAO Minsk Tractor Works makes. The guests spoke highly of the products on display.

The capacity of the Malaysian agricultural machines market is estimated at $70-80 million per annum. The fleet of tractors and other agricultural machines comprises about 43,000 units. Such vehicles and machines are primarily used by plantation enterprise farmers.

The first MTZ vehicles were delivered to Malaysia in 1968. Export to the region has been going via Singapore in the last few years.

Belarus-Malaysia diplomatic relations were established on 5 March 1992. In 2015 Belarus’ merchandise export to Malaysia totaled $110.5 million, with the surplus at $65.1 million. In January-October 2016 Belarus-Malaysia trade amounted to $130.9 million, with Belarus’ export at $85.6 million and import at $45.3 million. Malaysia is an important trade partner of Belarus in Southeast Asia. In 2015 Malaysia was 25^th in terms of Belarusian export. Potash fertilizers constitute 99% of Belarusian exports. Malaysia also buys products made by the Belarusian petrochemical industry, tires, measuring instruments, all kinds of equipment, and food. In 2016 samples of compound mineral fertilizers made by Gomel Chemical Plant and malt made by Belsolod were shipped to Malaysia. Due to the intensive development of agriculture in Malaysia there are good prospects for selling more Belarusian potash chloride to the country in addition to resuming the export of agricultural machines.