Business news

The Belarusian delegation led by Vladimir Zinovsky visited Wuhan, Hubei Province, on 4-6 June to attend the Forum on Global Production Capacity and Business Cooperation. Target audience was about 300 leading Chinese companies specializing in engineering, optics, energy, infrastructure construction, interested in organizing joint ventures in foreign countries. The forum was attended by delegations from Russia, Hungary, Poland, Italy, Africa and Latin America.

When speaking at the opening of the forum, Vladimir Zinovsky emphasized the high interest of Belarus in cooperation with China, and urged “to develop cooperation in developing production capacities, open new prospects, bring new energy and create predictable and stable business environment”.

“We need to move more actively towards the policy of integration of economies, create a common market, approximate economic regulators, encourage rational deployment of manufacturing facilities not for the sake of serving local markets but taking into account the international specialization and country competitive advantages. “The silk Road Economic Belt initiative allows us to apply all these approaches in practice and achieve synergy,” the minister said.

When speaking about Belarus, Vladimir Zinovsky said that the country is a good venue for Chinese and other foreign companies, for promoting mutually beneficial cooperation in the development of cooperation capacities.

On the sidelines of the forum the Belarusian Economy Minister met with representatives of the National Development and Reform Commission, which plays a vital role in shaping the economic policy of China. The commission in conjunction with the Ministry of Commerce was instructed to develop and implement the joint project Silk Road Economic Belt and Maritime Silk Road of the 21st century. An agreement was reached to sign the agreement on cooperation in developing production capacities.

During the visit the Belarusian delegation met with the leadership of Hubei Province. The parties discussed the key areas of interregional cooperation between the business circles of Hubei Province and Brest Oblast and the existing arrangements. Substantive negotiations were held with major Wuhan companies such as FiberHome Technologies Group and Tri-Ring Group. These companies analyze new markets and search for potential partners. It was noted that Belarus and Great Stone Industrial Park have some advantages in this regard. The parties agreed to continue the elaboration of joint projects.