Business news

VITEBSK, 29 October (BelTA) – The Free Economic Zone Vitebsk (FEZ Vitebsk) and the Administrative Committee of Harbin Economic and Technological Development Zone (China) intend to consolidate the cooperation arrangements by signing the relevant agreement, BelTA learned from the head of the administration of the Free Economic Zone Vitebsk Sergei Yurkevich.

On 11-16 October representatives of the FEZ Vitebsk Administration took part in the China Harbin International Economic and Trade Fair where they displayed the investment potential of the region and of the Free Economic Zone Vitebsk at the stand in the international pavilion. The Vitebsk delegation visited Harbin Economic and Technological Development Zone, Harbin High and New Technology Industry Development Zone, China International Chamber of Commerce of Heilongjiang Province. The Vitebsk delegation held working meetings with the heads of organizations and Chinese business community. As a result, the parties agreed to consider signing an agreement on cooperation between the FEZ Vitebsk Administration and the Administrative Committee of the Harbin Economic and Technological Development Zone.

“We submitted the Chinese side a draft agreement. The document can be signed either during another visit of a Vitebsk Oblast delegation to Harbin, or during the investment forum due in Vitebsk in the spring of next year. In addition, shortly after visiting the expo, we received a letter from the administration of the integrated bonded zone which was recently set up in Harbin with an offer to establish cooperation. So we are planning to sign an agreement with them too," added Sergei Yurkevich.

He explained that the main objective of such cooperation and participation in international fairs is to promote the positive image of Vitebsk Oblast, help the FEZ Vitebsk resident companies establish contacts with business partners and find companies interested in investing in projects in Vitebsk Oblast. For example, during the current fair a potential partner expressed willingness to take part in the project to build the multimodal logistic-industrial complex in the village of Bolbasovo (Orsha District). The Chinese businessmen showed interest in establishing contacts with Orsha Linen Mill, a resident company of the FEZ Vitebsk. Officials of Yanshou County of Harbin expressed readiness to visit Vitebsk Oblast in November this year to discuss the proposals for mutually beneficial cooperation in the flax industry. Meetings were also held with representatives of Harbin HAFEI Industry Co., LTD. (engineering and construction), China Economy and Trade Promotion Association, Chinese-Russian Chamber of Commerce, Huaxia Tianyuan International Trade Co (investment company, transport and logistics), Harbin Embraer Aircraft Industry Co., Ltd and others.

It should be noted that Vitebsk Oblast and the Chinese Province of Heilongjiang signed an agreement on cooperation in 2006 and a twinning agreement in 2014. The bilateral relations have been increasingly vibrant. For example, on 12 May this year, an official delegation and representatives of business circles of Heilongjiang Province visited Vitebsk where they got acquainted with the investment projects of the regional center and the Free Economic Zone Vitebsk.