Business news

MINSK, 28 August (BelTA) – Belarus-Egypt economic cooperation has increased considerably, Belarusian Minister of Foreign Affairs Vladimir Makei told the media following the negotiations with his Egyptian counterpart Sameh Shoukry on 28 August, BelTA has learned.

“Although Belarus-Egypt trade fell steeply in 2016, it has been growing since this year’s visit of the Belarus president to Egypt. Our trade and economic cooperation grew by some 60% in 2017,” Vladimir Makei remarked.

He stressed that there is more to come. “We think that the Belarus president’s visit to Egypt has laid a good groundwork for the rapid development of trade and economic cooperation in every field. Today we discussed specific avenues of cooperation: industry, agriculture, and environmental protection, interaction in science, culture, tourism, and many other fields,” the minister added.

Belarus and Egypt are co-implementing projects to produce MAZ vehicles, Belarusian tractors, and other equipment. “We are ready to share our technologies and ensure a proper share of local content in the manufacturing process in Egypt rather than just supply knockdown kits to assemble vehicles,” Vladimir Makei summarized.

For his part, Sameh Shoukry added that during the negotiations the sides discussed Belarus-Egypt relations in the context of an Egypt-EEU free trade agreement. “I am grateful to the minister for Belarus' assistance to Egypt with formulating the final text of this important agreement,” he said. According to the diplomat, this document will benefit all the sides in the future.

Sameh Shoukry is also expected to meet with Chairman of the Council of the Republic Mikhail Myasnikovich. “Belarus-Egypt interparliamentary relations may give an impetus towards closer cooperation and friendship between both nations,” the minister underlined.

He assured that the Egyptian government is working to expand the cooperation with Belarus and to implement the agreements reached earlier.