OREANDA-NEWS. September 6, 2012. Belarus is ready to make certain decisions by the end of 2012 to create a joint holding on the basis of domestic agricultural equipment maker Gomselmash and Russian company Rostselmash, Belarusian First Deputy Prime Minister Vladimir Semashko told reporters Tuesday.

“This issue is in the idea stage so far. Negotiations are well under way. I believe that both parties will gain from the project,” Semashko said, adding that the matter is getting more complicated following Russia’s recent accession to the World Trade Organization.

Earlier, Belarusian President Alexander Lukashenko said that merging the companies is in the interest of the Belarusian party in terms of expanding its presence on the Russian market.

Separately, Semashko said that the documents for setting up Rosbelavto on the basis of Russia’s largest truck maker Kamaz and Belarusian state-owned truck producer MAZ are close to completion. “In the nearest future, the documents will be submitted to the prime minister and president, and a firm decision will be made,” Semashko added.

Belarus’ President Alexander Lukashenko said earlier that a merger with Russia’s Rostselmash would be expedient from the point of view of expanding Belarus’ presence on the Russian market.

Russia’s state-owned Rostekhnologii, which owns a 49.9% stake in KamAZ, proposed a merger of MAZ and KamAZ in the winter of 2010. Initially, the parties planned to finalize the deal by means of exchanging stakes, however Belarus subsequently gave up the idea.

In the meantime, Belarusian First Deputy Prime Minister Vladimir Semashko said in June that KamAZ will contribute 49.9% of its shares to the joint venture with MAZ, which will give a 75% minus one share