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4 Sep 2019

Belarus, Egypt to cooperate in antimonopoly regulation

Belarus, Egypt to cooperate in antimonopoly regulation

MINSK, 4 September (BelTA) - The Ministry of Antimonopoly Regulation and Trade (MART) of Belarus and the Ministry of Trade and Industry of Egypt signed a memorandum of understanding in antimonopoly regulation and competition development, BelTA has learned.

The parties also signed a protocol of the sixth meeting of the Belarusian-Egyptian joint trade commission which met in Minsk on 3-4 September.

“The event aimed to implement the agreements reached during the visit of Egypt President Abdel Fattah el-Sisi to Minsk in June. The meeting was attended by representatives of ministries, departments and business circles of Egypt. During the talks with our Egyptian partners, we discussed in detail the prospects of cooperation in key areas. We agreed to further develop trade and economic relations, industrial cooperation using Belarusian technologies and expertise, increase the level of localization of joint production of MAZ, MTZ, Amkodor, and Bobruiskagromash equipment in Egypt in order to organize duty-free supplies of products to the markets of African countries, as well as to intensify efforts to remove barriers to mutual trade in light of the negotiation process to conclude a free trade agreement between the EAEU and Egypt. We also outlined prospects and main areas of cooperation in higher education, science, energy, agriculture, antimonopoly regulation and protection of competition, small and medium enterprises, culture and tourism, as well as interregional cooperation between Minsk Oblast and the South Sinai Governorate,” said Deputy Minister of Antimonopoly Regulation and Trade of Belarus Andrei Kartun.

Minsk also played host to the Belarusian-Egyptian business meeting. “Businessmen of the two countries held fruitful b2b negotiations, discussed a number of promising mutually beneficial projects in pharmaceuticals, agriculture, food industry, tourism, and legal consulting. The parties talked over the supply of fruit and vegetables, textile industry, interaction between the chambers of commerce and industry of the two countries. The parties also considered ways to establish joint ventures. The Belarusian part of the Belarusian-Egyptian Business Cooperation Council was formed. Its first meeting is scheduled for October-November 2019,” the deputy minister said.

Last year, the trade between Belarus and Egypt increased significantly in comparison with 2017 to reach $108 million. In H1 2019, mutual trade made up $75 million, which is also significantly higher than in the same period of 2018. “These figures show a high level of bilateral cooperation we are striving to develop together. At the meeting, we discussed opportunities to further expand our cooperation, particularly in the area of investment, production localization, and the implementation of joint industrial projects to bring joint products to the markets of third countries. The Egyptian government pays great attention to the development of cooperation with Belarus,” said First Undersecretary of the Trade and Industry Ministry of Egypt Ahmed Antar.

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