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Opinions & Interviews

18 Feb 2015

Belarus seeks to boost cooperation with Japan

Belarus seeks to boost cooperation with Japan

MINSK, 18 February (BelTA) - Belarus seeks to boost bilateral interaction with Japan, Belarus’ First Vice Prime Minister Vasily Matyushevsky said as he met with Senior Corporate Advisor at Marubeni Corporation Wataru Yoshida on 18 February, BelTA has learned.

"I am sure that we will soon be able to boost bilateral interaction. For this there are all prerequisites, including the interest on the part of business entities, and your visit attests to this,” Vasily Matyushevsky said addressing Wataru Yoshida. Constructive cooperation with Japan is one of the priorities of the Belarusian foreign policy, Vasily Matyushevsky noted

Having serious potential for cooperation, Belarus and Japan have not used it to the full so far, the First Vice Premier said . The volume of direct investments in Belarus from other countries, who are traditional partners of Japan, significantly exceeds the Belarusian-Japanese indicators. For example, in 2013 the net direct investments in Belarus from Japan amounted to $393,000. Those from the United States totaled $82 million, the United Kingdom - $64 million, Germany - $45 million. Vasily Matyushevsky noted with regret that there are only two companies with Japanese participation in Belarus. "Belarus is seeking to engage more actively Japanese investment and technology. We are ready to create the most favorable conditions for Japanese partners, including Marubeni Corporation,” said Vasily Matyushevsky.

Vasily Matyushevsky met with Senior Corporate Advisor at Marubeni Corporation Wataru YoshidaAccording to him, the government sees great opportunities in implementing projects in the field of chemistry, petrochemical and automotive industry (primarily the components for Japanese cars assembled in Russia). Vasily Matyushevsky invited Marubeni Corporation to consider the participation in several projects, for example in the construction of the nitrogen unit in Belarus, and also the setting up of a production facility for polyester base for roofing materials.

Marubeni is a multifunctional trade investment company. The main lines of business is the implementation of investment projects in foreign countries and supply of Japanese equipment and technology in such areas as infrastructure, mining, processing and transportation of energy resources, the manufacture of chemical products. As a equipment supplier Marubeni together with the Japan Bank for International Cooperation participated in the investment project to upgrade the polyester fibers production at Svetlogorsk Khimvolokno. The $31.5 million loan agreement was signed with the Japanese bank.

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