Belarus' ambassador discusses prospects for joint ventures in Russia's Magadan Oblast

According to the ambassador, the creation of joint production facilities is region-specific. “Things are much more complicated in the Far East in this regard. Here we need cooperation or collaboration between development institutions and enterprises,” he noted.

“We began to explore cooperation options with Magadan Oblast not so long ago. We have exchanged tentative proposals with their economy minister and investment agency. By the visit of the Magadan Oblast governor to Belarus, they will draft a list of projects. It is no secret that 60-70% of them have to do with the mining industry and related industries. As for other industries - household appliances, furniture, etc. - this is primarily about trade. They ask to at least calculate the cost and logistics of creating our multi-brand center,” said Dmitry Krutoi.

According to him, trial deliveries of Mozyrsol salt, certain types of furniture and equipment to Magadan Oblast have already started. “Enterprises are calculating the costs. On the other hand, 90% of products arrive in Magadan Oblast from Moscow and distribution warehouses in Moscow Oblast. Therefore, if we piggyback our goods on this distribution system, expanding our trade might make economic sense,” the ambassador noted.

He added that Magadan Oblast is showing genuine interest in products by BelAZ, MTZ, Amkodor. “This will most likely be some kind of multi-brand facility, which we discussed a few days ago with the Primorye Territory governor. If this idea takes off in the Far East, we will scale it up; it simply won't work out any other way,” Dmitry Krutoi stated.