Business news

MOGILEV, 18 October (BelTA) – Belarus’ Mogilev Oblast and Latvia have plans to explore new cooperation avenues. A corresponding agreement was reached at the meeting between Mogilev Oblast Governor Vladimir Domanevsky and Ambassador Extraordinary and Plenipotentiary of Latvia to Belarus Martins Virsis on 18 October, BelTA has learned.

The parties noted that Mogilev Oblast and Latvia have great potential for advancing the mutually beneficial interaction. Many Belarusian and Latvian companies and enterprises have established partnership ties and now actively develop them. In January-August 2016, the trade between Mogilev Oblast and Latvia doubled from the same period of 2015 and reached $17.8 million. However, there is still much untapped potential, and effort should be made to boost the effectiveness of the bilateral cooperation.

“It is time for us to search for new forms and areas of cooperation and improve our relations at the interregional level, including between the local government bodies. We could help each other develop agriculture, woodworking industry, tourism, education, culture and sports,” Martins Virsis believes.

For his part, Vladimir Domanevsky noted that there are good prospects for closer cooperation with Latvia at the interregional level and at the level of enterprises, and also in the implementation of joint investment projects. He invited the Latvian side to jointly organize a meeting for businessmen of Latvia and Mogilev Oblast, consider the possibility of setting up a joint venture to produce Mogilevliftmash elevator equipment in Latvia, and find a twin city for Mogilev.

On 18 October, Martins Virsis will also meet with representatives of Mogilev City Hall and pay visits to the Mogilev branch of the Belarusian Chamber of Commerce and Industry and the company Mogilevliftmash.