Belarus strengthens cooperation with China

The Export-Import Bank of China allocates a USD 654.164 million loan to Belarus for the construction of a bleached pulp production plant. Production of Chinese cars Geely in Belarus does not conflict with agreements made with Russia.

The construction of a plant for the bleached pulp production based on OJSC Svetlogorsk Pulp and Paper Mill with 400 tons annual capacity will begin in July 2012. The project’s cost is USD 864 million, of which the Export-Import Bank of China will fund USD 654.164 million via a loan.

Chinese Geely cars production in Belarus does not conflict with agreements concluded with Russia. “There are no conflicts of interests with Russia. There is an agreement signed in 2009 concerning industrial car assembly, which says that in a few years (I believe, in seven), we need to localize at least 50% of the production. Calculations show that if we stamp parts, weld, paint, produce a suspension, generators, we easily fall within these 50% thereby complying with the terms of the intergovernmental agreement”, Vladimir Semashko said.

If Semashko’s calculations are confirmed, Belarus will be able to obtain CT-1 certificate and deliver within the CES and the Customs Union. Two cars under Geely brand name have been assembled in Belarus and at the moment they undergo a certification process inside the country.