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Business news

6 Dec 2016

Chinese company eager to set up joint venture with Belarusian Brestmash

BREST, 6 December (BelTA) – The Chinese company JAC Motors is interested in setting up a joint venture with the Brest-based mechanical engineering company OAO Brestmash. The idea was discussed when a delegation of China’s Anhui Province met with Deputy Chairman of the Brest Oblast Executive Committee Andrei Klets in Brest on 6 December, BelTA has learned.

The joint venture is expected to use Brestmash premises to make light automobiles and minibuses. The partners have already agreed on the preliminary terms. The vehicles will be assembled using the MAZ trademark and may be sold across the entire Eurasian Economic Union later on. “Apart from that, we intend to step up logistics operations with JAC Corporation and other companies from Anhui Province,” noted the deputy head of the Brest Oblast administration.

The Chinese delegation was led by Deputy Chairman of the Anhui Province Committee of the Chinese People's Political Consultative Conference (CPPCC) Xia Tao. Prospects of advancing interregional cooperation were also discussed during the meeting. The sides signed a protocol of intent to establish partnering relations in economy, production sector, agriculture, education, tourism and other areas. An agreement on cooperation between Brest Oblast and Anhui Province may be signed on the basis of these documents in the future.

Xia Tao said: “The meeting today was very productive. We have agreed to advance cooperation in various spheres and to exchange visits on an annual basis. It will allow us to understand each other better. More opportunities for interaction will emerge, particularly in view of the development of the new Silk Road. We should use the opportunities as much as possible for developing the economies of Belarus and China.”

It is the first visit of Anhui Province representatives to Brest Oblast. The guests are expected to visit the mechanical engineering company OAO Brestmash, the white goods manufacturer Gefest-Tekhnika, the construction sites where public welfare homes are being built using China’s technical and economic aid, sport facilities, and the Brest State Technical University.

Andrei Klets concluded: “Relations with China are rapidly developing. It is the third delegation from a Chinese province that Brest Oblast has enjoyed welcoming this year. Serious negotiations are in progress. We expect that contacts at the level of the regions will reach as far as the implementation of specific projects between our companies.”

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