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Opinions & Interviews

24 Sep 2018

Belarus, India to sign agreement on investment

Belarus, India to sign agreement on investment

MINSK, 24 September (BelTA) - Belarus and India will sign an agreement on investment, Belarus’ Industry Minister Pavel Utyupin said at the opening of the Belarusian-Indian business forum in Minsk on 24 September, BelTA has learned.

"Belarus and India should go further in developing a favorable business environment for our companies. We are offering Indian partners a project of an Belarusian-Indian investment cluster in the special economic zone Bremino-Orsha. "We hope that India will use this opportunity to build an industrial logistics hub for the production and promotion of products, including to the EU and the EAEU. Investment cooperation requires an appropriate regulatory framework. I am pleased to announce the forthcoming signing of the Belarusian-Indian agreement on investment during this business forum. It will make the environment for mutual investment even more beneficial," Pavel Utyupin said.

The minister noted a significant revival of the Belarusian-Indian business contacts after the visit of the Belarusian president to New Delhi last September. "Economically, the potential of bilateral cooperation is obvious. But we would also like to develop production and investment cooperation," he said.

Pavel Utyupin singled out engineering, textile industry, oil production, pharmacy, high technology, agriculture, scientific cooperation as the most promising areas.

Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich emphasized that India has a vast domestic market. "The Indian government is implementing a number of projects, including infrastructure ones. We can join them. We need partners who can both participate in projects financially and who can offer consumers. Here we have great prospects," he said.

Attending the forum are representatives of over 50 Belarusian enterprises and 18 companies - members of the Confederation of Indian Industry. The companies have an opportunity to establish business contacts and discuss export of products and services. India shows an interest in cooperation with Belarus in the production of pumps, mining equipment, tourism, consulting and energy industries. The forum has been organized by the Belarusian Chamber of Commerce and Industry together with the Confederation of Indian Industry.

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