Business news

MINSK, 4 February (BelTA) – President of the Russian Railways Oleg Belozerov and head of the Belarusian Railways Vladimir Morozov praised the first results of the United Transport and Logistics Company at a meeting in Moscow on 4 February, BelTA learnt from the press service of the Russian Railways.

“The parties lauded the first practical results of the company both in its financial and volume performance, and expressed confidence that the United Transport and Logistics Company would take on even more ambitious tasks in 2016 and subsequent years,” representatives of the Russian Railways said.

The parties stressed that modern logistic companies “without assets” have more advantage in operational decision making than companies “with assets” do. Thanks to attracting transportation resources such companies are more competitive in comparison with traditional market players. The working experience of the Russian logistic company GEFCO (a subsidiary of the Russian Railways) testifies to the fact as well.

Oleg Belozerov stressed that the Russian and Belarusian sides had fulfilled all the agreements of the first stage in the company development. The second stage envisages the formation of the company assets and a shift to a targeted model of parity corporate management.

He also informed that further development of the company was discussed in January 2016 on the initiative of the Kazakhstani Railways (a shareholder in the United Transport and Logistics Company).