Business news

MOGILEV, 30 June (BelTA) – The Belarusian tire maker Belshina and the Vietnamese company Au Viet Industry have signed a protocol of intent to develop cooperation, BelTA learned from the Belshina administration.

An agreement was reached that Belshina’s partner will bring for testing pilot batches of all-steel tires for dump trucks and quarry vehicles to the company Vinacomin and facilitate the sale and promotion of Belarusian tires in Vietnam. The Belarusian products will be delivered via the company Beltyre Asia Pte.Ltd which is a subsidiary of Belshina in Southeast Asia holding exclusive rights to sell Belshina tires in Indonesia, Singapore, Thailand, Vietnam, Cambodia, Laos, Malaysia, the Philippines, Myanmar, India, Bangladesh, and China.

“The protocol of intent will give a fresh impetus to the relations with the Vietnamese company Au Viet Industry, open up new opportunities for market diversification and consolidation of Belshina’s position on the market of Vietnam, and help boost exports to this country and its neighboring states. The positive results of our cooperation in 2017 attest to this,” the Belshina representatives noted. In January-May 2017, the company sold $252,200 worth of products to Vietnam, up by 32.9% against the same period of 2016. The company’s export to Vietnam is projected to total 2,600 tires to the tune of over $450,000.

The Belarusian tire factory was founded in 1972. It was converted into the public joint-stock company (OAO) Belshina in 2002. Belshina is one of Europe’s top tire makers. The company offers over 350 standard sizes and models of tires. The company trades with over 75 countries. The main domestic consumers include Belarus’ largest enterprises such as BelAZ, MAZ, MTZ, MZKT, Gomselmash, and Amkodor.