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7 Sep 2015

Better Belarus-India trade, economic relations through joint ventures

MINSK, 7 September (BelTA) – Joint ventures represent the points for growing trade and economic relations with India. The statement was made by Chairman of the Council of the Republic of the National Assembly of Belarus Mikhail Myasnikovich after meeting with Indian Commerce and Industry Minister Nirmala Sitharaman on 7 September, BelTA has learned.

“The growth points are the establishment of the joint ventures we have agreed on in Belarus and India. They will represent not only trade, economic, and merchandise cooperation but investment cooperation,” noted the Belarusian MP.

Among other projects the number includes the idea to set up a Belarusian vehicle center in India and a medical center in Belarus. The Belarusian vehicle center is supposed to offer products made by BelAZ and Amkodor and possibly MAZ and MTZ. It will offer pre-delivery inspection, localization, maintenance and personnel training. In Belarus prerequisites for setting up the Indian medical center are available in the shape of five enterprises, which are designed to make medications. The enterprises are being built with assistance of Indian capital in Beshenkovichi, Nesvizh, Skidel and Kolyadichi.

The second important area of cooperation is the development of the free trade area agreement between the Eurasian Economic Union and India. Apart from that, it is necessary to step up parliamentary contacts by refreshing the friendship groups in the parliaments of Belarus and India.

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