Business news

MINSK, 11 July (BelTA) – The Belarusian tractor manufacturer MTZ will set up an industrial cluster of Belarusian mechanical engineering enterprises based on the trading house MTZ-YelAZ in Tatarstan, BelTA learned from MTZ Director General Fyodor Domotenko during the government conference held by the Belarus president on 11 July to discuss the country’s foreign policy priorities in modern times.

According to the source, the Belarusian company is taking various measures to bolster its position on the Russian market. “We intend to execute a special investment contract. There are plans to arrange a large manufacturing cooperation scheme based on MTZ’s existing distribution chain in the Russian Federation. Then we intend to use the trading house MTZ-YelAZ to set up an industrial cluster of Belarusian mechanical engineering enterprises. Then we intend to increase the localization degree in assembling 80-455hp MTZ tractors at premises of MTZ-YelAZ and the Cherepovets casting and mechanical plant,” said Fyodor Domotenko.

In his words, the Russian legislation allows implementing such projects. The Belarusian company has good prospects on the Russian market if the relevant support is available. Negotiations are underway now.

Fyodor Domotenko talked about sales of Belarusian tractors. In H1 2017 the managing company of the public joint-stock company MTZ exported $258 million worth of products, 28.2% up from H1 2016. The holding company MTZ exported $280 million worth of merchandise, 24.8% up.