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Business news

7 Apr 2016

Belarus, Nizhny Novgorod Oblast set to reach $1bn in trade

MINSK, 7 April (BelTA) – Belarus and Nizhny Novgorod have plans to reach $1 billion in mutual trade, the press service of the Belarusian government told BelTA following the 14th meeting of the Belarus-Nizhny Novgorod Oblast Business Cooperation Council that took place in Nizhny Novgorod.

“One of the tasks for the nearest five-year period is to reach $1 billion in trade between Nizhny Novgorod and Belarus,” said Belarusian Deputy Prime Minister Vladimir Semashko, who took part in the meeting of the council. In his words, a number of documents were signed to boost cooperation in economic, political, and humanitarian sectors.

A delivery contract was signed between OAO Naftan and OOO MMA in Dzerzhinsk for the production of methylmethecrylate, necessary for the production of organic glass. Another contract was concluded between the Nizhny Novgorod lift manufacturer and Mogilevliftmash on the delivery of 131 lifts to Belarus.

According to Vladimir Semashko, during the visit he got familiar with various companies of Nizhny Novgorod, including MAZ Group and Nizhny Novgorod 70th Anniversary of Victory Plant.

“I stated that GAZ has found its niche in the automobile market and succeeded in the niche of passenger cars and buses. Over the last two years they have worked hard, developed new models which resulted in good sales and profit. I also visited the plant that your president Vladimir Putin inaugurated. I would say I have never seen such plants,” said Vladimir Semashko.

In his words, there is an agreement with the GAZ Group leadership to implement a joint program on vehicle components within the next two years.

“Unfortunately, we failed to fulfill the task we set for the previous five-year period, i.e. to reach $1 billion in trade. At some point the trade between the oblast and the country reached almost $750 million, but last year it fell to $500 million. Therefore, we have a goal. We need to reach $1 billion,” Vladimir Semashko said.

In turn, Nizhny Novgorod Vice Governor Yevgeny Lyulin stressed that during these two days thanks to the active position of the Belarusian counterparts the parties were able to discuss a lot, held bilateral meetings and talks and signed a number of documents. “Every agreement will bring results – an increased trade turnover, bigger production volumes, new jobs, higher salaries and so on. It is important that we have outlined a strategic goal for this year and the ongoing five-year period. I think the meeting will contribute to the economic development of both Nizhny Novgorod and Belarus,” said Yevgeny Lyulin.

In 2015 the trade between Belarus and Nizhny Novgorod Oblast totaled $482.9 million. The export to Nizhny Novgorod Oblast totaled $250.6 million (up 5%). The import made up $232.2 million.

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