Business news

MINSK, 27 June (BelTA) – Belarus is ready to increase shipments of the entire range of mechanical engineering products to Vietnam. Prime Minister of Belarus Andrei Kobyakov made the statement as he met with Vietnam President Tran Dai Quang on 27 June, BelTA has learned.

Andrei Kobyakov said: “Vietnam is our traditional and reliable friend in Southeast Asia. Key priorities of Vietnam’s economic development for a period of five years coincide with Belarus’ priorities. Innovations, improvement of the competitive ability of the economy, higher revenues of individuals are in focus.”

Belarus and Vietnam have similar views on key items on the international agenda. “We are thankful for your supporting Belarusian initiatives within the framework of the United Nations Organization. We have always responded and will respond in kind,” stated Andrei Kobyakov.

In his opinion, Belarus-Vietnam annual trade volumes — slightly more than $120 million in 2016 — are way below the available potential. “It is necessary to set ambitious goals. The level of political relations between our countries allows securing growth in key avenues of our cooperation,” the prime minister was convinced.

 According to Andrei Kobyakov, partnership in mechanical engineering is a high priority for Belarus and Vietnam. “We are a leading manufacturer of vehicles and machines. Belarus has experience and unique technologies,” stressed the prime minister. “We are ready to increase shipments of the entire range of mechanical engineering products to Vietnam: trucks, passenger vehicles, mining vehicles, and agricultural machines.”

While the global economy is slowing down, Belarus and Vietnam can gain fast if new forms of cooperation and joint ventures are established, if effective financial instruments to support them are made available, said the prime minister. An agreement on free trade between the Eurasian Economic Union and Vietnam came into force in October 2016. It opens up totally new opportunities for advancing trade and economic relations between Belarus and Vietnam, stressed Andrei Kobyakov.

Belarus views Vietnam as a bridgehead for securing its grasp on Southeast Asia and pushing for the ASEAN markets together. “With this in mind we are moving from simple trade to manufacturing cooperation in practice,” noted the Belarusian head of government. The construction of a MAZ Asia assembly enterprise not far from Hanoi will be completed this year. The enterprise will make modern trucks, which have been specifically designed for Vietnam. The Belarusian government has enabled comfortable conditions for this enterprise. “I would like you to support this joint project, particularly initially because other brands may come to Vietnam after MAZ,” stated Andrei Kobyakov.

Andrei Kobyakov said he was confident that the two countries have the potential to multiply the bilateral turnover many times over in the next few years.

In turn, the Vietnam president thanked Andrei Kobyakov for the warm welcome and expressed readiness to discuss Belarusian proposals.