Business news

CHISINAU, 3 October (BelTA) – Moldova’s Gagauzia invites Belarus to strengthen trade and economic cooperation and conduct new investment projects in the region, Gagauzia Governor (Baskan) Irina Vlah said at the 17th meeting of the Belarusian-Moldovan intergovernmental commission for trade and economic cooperation on 3 October, BelTA has learned.

Irina Vlah noted that the economies of Gagauzia and Belarus are almost complementary. In 2015, Gagauzia’s major exports to Belarus were alcoholic beverages and juices (over $3.2 million), fruit ($0.3 million), sunflower seeds ($0.2 million), and different kinds of equipment ($0.1 million). All in all, Gagauzia sold to Belarus more than $3.7 million worth of products last year, up by $1.3 million from 2014.

The Gagauzia Governor emphasized that the region imports from Belarus machinery and equipment, oil products, plastic products, wood, knitwear, household chemicals, and cosmetics. In 2015, Belarus exported to Gagauzia some $0.6 million worth of goods, almost three times as much as in 2014. Belarusian products account for some 3% of the total Gagauzia’s imports. Moldovan customers appreciate the high quality and competitive price of Belarusian products.

Irina Vlah also pointed out that Belarus and Gagauzia maintain a continuous dialogue, both at the state level and at the level of chambers of commerce and industry, to attract investments to set up new joint enterprises. She noted that the Gagauzian enterprise Budzhakagrotechservis and Bobruisk Plant of Tractor Parts and Units signed a cooperation protocol at the First International Investment Forum in Comrat in November 2015. A tractor assembly plant has been set up in Gagauzia as a result of its implementation. The tractors are in demand among agricultural enterprises and housing and utilities companies across Moldova. The partners have plans to boost the output to 45 units per year.

The Gagauzia Governor stressed that local authorities have been providing support to the cooperation project, from the first visit to the Bobruisk-based plant to the search for customers for the first batch of products. These joint efforts have led to the success of the project. Irina Vlah pointed out that other Belarusian investors willing to cooperate with Gagauzia will also be given priority attention and support.

Irina Vlah said that Gagauzia will host the Second International Investment Forum in a month, on 5 November 2016. The Gagauzian authorities hope to welcome a business delegation from Belarus. The Belarusian partners will be invited to invest in promising projects in food processing, agriculture, power engineering, housing construction, oil processing, and information technology.

Irina Vlah expressed hope that Belarusian businessmen will get interested in the investment guarantees and preferences offered by the Gagauzian authorities, and also in the opportunities offered by the free economic zone in Vulcanesti, industrial parks and the business incubator.