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Wednesday, August 23, 2017

Seven new Belarusian assembly plants to open overseas

Several Belarusian companies have announced that they will open seven assembly plants overseas by the end of 2014, according to a report released on Tuesday.

Gomselmash and Gomel Foundry and Standards Works plan to open two plants in Russia, and Minsk Tractor Works (MTZ) has plans to expand into Kazakhstan and Sri Lanka. Bobruiskagromash will also be building a plant in Kazakhstan.

MTZ and Gomselmash also are considering the possibility of producing and assembling products in China.

“All these measures are taken by national producers to advance and gain strong footing on foreign markets,” Industry Ministry spokesman Sergei Shalai said. "The main goal for Belarusian companies is to diversify exports. Thus, according to the data for January-July 2014, Belarusian companies supplied products worth over $3 billion abroad. The foreign trade surplus for industrial products increased by 11.5 percent to reach $1.5 billion in January-July 2014."

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