Business news

MINSK, 16 September (BelTA) – Belarus and Russia are interested in the joint production of auto components, Belarus’ Industry Minister Vitaly Vovk told media on 16 September, BelTA informs.

According to the minister, joint manufacturing of auto components is an issue of current importance. “It is in the interests of both Belarus and the Russian Federation,” said Vitaly Vovk.

In his words, Belarusian and Russian manufacturers should develop cooperation more actively, including in part of advancing products to third markets. “We should jointly fill in the areas which are still vacant,” Vitaly Vovk believes. The minister laid special emphasis on the machine-tool industry as an area for joint development.

The issues of industrial cooperation, integration and joint exports to third countries will be considered at the Second Forum of Regions of Belarus and Russia which is due in Sochi on 17-18 September. The industrial policy will be the main theme of the event. The forum will discuss interregional cooperation in the industrial policy, unification of financial and marketing potentials, diversification of national economies, and human capital development.