Business news

GOMEL, 4 October (BelTA) – Companies of Gomel Oblast are gearing up to sign contracts worth $100 million at the 5th Forum of Regions of Belarus and Russia, Alevtina Saranchuk, the head of the foreign economy department at the economy committee of the Gomel Oblast Executive Committee, told the media in Gomel on 4 October, BelTA has learned.

“These are both state-owned and privately-held enterprises representing industries such as food processing, electrical engineering, furniture, and others.,” Alevtina Saranchuk informed. Gomel Oblast plans to conclude cooperation agreements with Kirov Oblast, Nizhny Novgorod Oblast, Samara Oblast and the Republic of Buryatia.

Representatives of Gomel Oblast are set to take part in the discussions about the agricultural policy, international activities and economic security of the Union State, and cooperation between the regions in the digital economy. Gomel Oblast will also present its economic, cultural, scientific and tourist potential at the platform “Gomel Oblast Welcomes”. Local artisans will be featured in the arts and crafts fair.

Alevtina Saranchuk noted that Russia remains the main partner of Gomel Oblast. In January-July 2018, the neighboring country accounted for 63% of the region’s foreign trade: over 35% of the export and 85% of the import. Gomel meat and dairy companies operate five commodity distribution networks that reported sales worth $11 million in January-June this year.

More than 400 enterprises with Russian investments operate in Gomel Oblast and 18 of them are residents of the FEZ Gomel-Raton. “This year alone, we registered three new companies with Russian capital in Gomel-Raton. They will produce household appliances, vans, energy metering devices,” Alevtina Saranchuk explained.

Gomel Oblast has signed 24 bilateral and three multilateral agreements on trade, economic, scientific and cultural cooperation with Russian regions. Besides, cities and districts of Gomel Oblast have concluded 73 agreements on partnership and twin-city relations with Russian administrative units.

The 5th Forum of Regions of Belarus and Russia will take place in Mogilev on 11-12 October. The event will be organized by the Council of the Republic of Belarus’ National Assembly and the Federation Council of Russia’s Federal Assembly in cooperation with the Mogilev Oblast Executive Committee. About 2,000 people are expected to attend the main and related events of the forum. More than 70 cooperation documents are to be signed at international, regional and local levels.