A Chinese truck company and a Belarus-based parts manufacturer have recently signed an agreement. The agreement states that the Belarusian BelAZ OJSC will supply truck parts worth more than $360,000 to China Datang Corporation (CDT).
The agreement was signed during China and Belarus' meeting of the commission for trade and economic cooperation between the two countries. During the summit, intergovernmental and economic cooperation between the two countries were also discussed.
During a working meeting together with representatives from China Datang Corporation, the representatives highlighted the possibility of expanding current contracts between the two countries, especially in the fields of mechanical engineering and the electric power industry.
The commission meeting was participated by Belarus' Deputy Foreign Minister Andrei Dapkiunas. The summit was headed by Belarus' Deputy Minister of Economy Aleksander Chervyakov and Chinese Deputy Minister of Commerce Fu Ziying.
Several important issues were tackled during the bilateral summit. Among the top priority points discussed were the development of the China-Belarus industrial park, as well as investment and credit outlets.
Possibilities of bilateral interaction between Belarusian and Chinese state-owned companies were also discussed during the summit. Along with it, interregional contracts and expansion of trade and exports of Belarusian goods and services to China were also tackled.
Mr. Dapkiunas highlighted the importance of the upcoming China International Import Expo which is expected to open its doors on November 5 in Shanghai. The foreign minister said that this is a new opportunity for Belarus to export goods and services to China.
The foreign minister described the exhibition as an opportunity for Belarusian companies to establish their presence in one of the world's biggest markets. The minister also cited the importance of establishing strong diplomatic and economic ties with China. He added that there should be a consistent formation of trade between the two countries and emphasized the willingness of both countries to achieve these goals.
Many market analysts said that the recent development between China and Belarus is part of the former's plan to extend its influence outside of Asia and towards Europe. Part of this plan is to connect mainland China with the rest of Europe through the China Railway Express project. The Chinese government is reestablishing its presence in global trade by reviving and extending the ancient trade route known as the Silk Road.
