OREANDA-NEWS. December 15, 2010. Belarus considers a possibility to set up enterprises producing quarry machines, tires, and synthetic fibers in Iran, First Deputy Prime Minister of Belarus Vladimir Semashko said as he met with Iranian Minister of Commerce Mehdi Ghazanfari.

“We are discussing establishment of facilities to assemble quarry machines and produce synthetic fibers and tires in Iran. We are ready to consider any project,” Vladimir Semashko said.
The First Vice Premier noted that by the end of the year Belarus will open a facility to assemble MAZ trucks in Iran. The joint venture will have a high degree of localization which means new jobs, earnings and revenues to the Iranian budget, he said.

Vladimir Semashko added that Belarus welcomes Iranian projects on its territory. He reminded that in recent times the investment climate in Belarus has significantly improved which should facilitate and deepen trade and economic cooperation with Iran. “We have offered extremely favorable conditions to make money in Belarus; the state guarantees the safety of capital,” the First Vice Premier said.

Furthermore, when investors come to Belarus, they enter the 170 million market of the Customs Union. “It means that if you have business here, your products, for example Samand cars, will move freely within this market,” Vladimir Semashko reminded.

He added that the presidents of Belarus, Russia and Kazakhstan signed a package of agreements on the Single Economic Space. Belarus will be able to import oil and oil products duty free, which is expected to enhance its competitiveness and investment appeal.

Belarus and Iran possess great potential to develop trade and economic links, Vladimir Semashko said.

In January-October 2010, the trade between the two countries rose by 37% over the same period a year before to USD 79 million. However, the First Vice Premier believes that the figure is insignificant and should be dramatically increased to amount to billions of dollars; after all, there are good preconditions for that.

In his words, the mutual penetration in each other’s markets creates a good foundation for a more vigorous cooperation.

Vladimir Semashko emphasized that the Iranian exhibition opened in Minsk on 9 December is a great success. “Such events introduce us to new cooperation prospects, which is important, as we have complementary economies,” he said.

The First Vice Premier assured the Iranian minister that Belarus is interested in deepening cooperation with Iran. “If there are any issues, we are ready to come to grips with them,” Vladimir Semashko said.

Iranian Minister of Commerce Mehdi Ghazanfari said that the Customs Union formation is a landmark process. The minister expressed hope that other CIS member states will follow suit. “It is important that the rules governing the work of the banking sector and economy in general will be the same, which will facilitate doing business here,” the Minister concluded.