Business news

MINSK, 25 May (BelTA) – The Belarusian mechanical engineering company Amkodor has plans to set up an assembly plant in Egypt, Belarusian Antimonopoly Regulation and Trade Minister Vladimir Koltovich told the media as he commented on the results of the meeting of the Belarusian-Egyptian trade commission on 25 May, BelTA has learned.

“The work on the agreements to establish an Amkodor assembly plant in Egypt is nearing completion. A delegation from Egypt visited the Belarusian company yesterday. They praised the high quality of the Amkodor products and expressed their interest in cooperation,” Vladimir Koltovich said.

He noted that Egypt would also like to establish ties with Belarus in the area of transport. The plans were discussed during the meeting with Belarusian Deputy Prime Minister Vladimir Semashko and Transport and Communications Minister Anatoly Sivak. “Attention was paid to three cooperation areas. The first one was the modernization of ground transport vehicles (buses, trolleybuses, and trams). The second focus was on the ways to boost the freight traffic and interregional transport operations: the Egyptian side is set to increase the freight traffic by ten times. The third area was the upgrade of rail transport. The parties considered Belarus’ capacities in terms of the supplies of rolling stock, and the Egyptian side showed their interest,” the minister said.

Besides, the parties discussed plans regarding agricultural projects. “Egypt has provided a land plot for our joint project, and a working group has been set up. The Belarusian side will be led by one of the deputy agriculture and food ministers. The working group will visit Egypt in the near future to consider possible application of Belarusian technologies in the construction agro-towns and dairy farms,” Vladimir Koltovich said.

For his part, Egyptian Minister of Trade and Industry Tarek Qabil described the talks with Belarusian Deputy Prime Minister Vladimir Semashko and Minister of Foreign Affairs Vladimir Makei as fruitful. “We discussed new areas of bilateral collaboration. We try to focus our attention on the development of cooperation in industry and investment,” he said.