Business news

MINSK, 30 March (BelTA) – The implementation of the civil engineering projects Minsk Mir and Mayak Minsk involving Serbian investments proceeds on schedule, BelTA learned from Belarusian Trade Minister Vladimir Koltovich, head of the Belarusian-Serbian intergovernmental commission on trade, economic, scientific, and technical cooperation, on 30 March.

Vladimir Koltovich said: “We have discussed interaction [with the Serbian side] in the field of investments. Major investment projects — Mayak Minsk and Minsk Mir — are being implemented in Minsk. Everything goes as planned.”

In November 2015 Honorary Consul of Belarus in Belgrade Dragomir Karic told media that plans had been made to set up a consortium of civil engineering companies from former Yugoslavia for the sake of building the experimental multifunctional complex Minsk Mir. The events were supposed to take place in spring 2016.

According to Dragomir Karic, the project will take at most ten years to accomplish but the first results will be noticeable within the first two years. The Minsk Mir complex will occupy 320ha at the site of the former airport Minsk One. Apart from social infrastructure the compound will include a trading center and a financial one. Serbian investors expect the fact to attract investments of internationally recognized companies to Belarus. Apart from that, more jobs will be created.

A session of the Business Council for Cooperation between the Belarusian Chamber of Commerce and Industry and the Chamber of Commerce and Industry of Serbia took place in Minsk on 29 March. The Belarusian Trade Minister said the session was intensive since the Serbian delegation included over 100 businessmen who have conducted successful negotiations. Contracts have been signed. According to the source, among other things the sides discussed cooperation in jointly manufacturing automobiles and tractors in Serbia and prospects of setting up an international holding company to make automobile components. The optimization of logistics for metal products, chemical products, petrochemicals, and mining machines was discussed as well, said Vladimir Koltovich.

The official drew attention to the positive dynamics of Belarusian-Serbian economic relations. In 2009 Belarus and Serbia signed a free trade agreement. Since then the mutual trade turnover has grown by nearly five times, said Vladimir Koltovich.

Serbian Economy Minister Zeljko Sertic, head of the Serbian part of the intergovernmental commission, stated: “Our countries now face the challenge of finding new markets and raising the competitive ability of products.” The Serbian delegation was satisfied with results of the meetings organized at various levels in Belarus. Apart from that, he congratulated the Belarusian side on the recent economic achievements taking into account the difficult situation on international markets.

The ninth session of the Belarusian-Serbian intergovernmental commission on trade, economic, scientific, and technical cooperation took place at premises of the Belarusian Ministry of Foreign Affairs on 30 March. A protocol was signed at the end of the session.