Deputy Minister Rybakov who sat through a two day Lanka-Belarus Economic Cooperation session held at Taj Hotel, Colombo was voicing his views on the successful conclusion of the first ever Sri Lanka-Belarus Joint Commission on Trade and Economic Cooperation session on Thursday.
Belarus’ Deputy Minister Rybakov said : “As the agreed minutes and protocols of the first Sri Lanka-Belarus Joint Commission on Trade and Economic Cooperation are being signed now, I wish to state that we, the Belarus delegation have had a very successful event in Colombo. This is a promising start for a closer bilateral effort. With the success of this event, without any doubts we are now at a new level of close cooperation with Sri Lanka. These two days have been very productive for Belarus and we formed a strong positive foundation with Sri Lanka during these important days. As a result of today’s positive outcome we are now planning to bring both our Foreign Minister and President of Belarus to Sri Lanka as the next step in our on-going cooperation efforts. In fact, the important aspect is bilateral cooperation. As a result of this session a successful tractor manufacturing joint venture is now being finalised. Also in talks is a truck and bus assembly as a Joint Venture with a Lankan motor vehicle manufacturer. It is too early to indicate any investment values in these as of now. Belarus also has some of the world’s leading potash suppliers and using them we are keen to strengthen our support to the Lankan agro sector. More importantly, we will be supporting to enhance your food security as we have experience in it.”
R D S Kumararatne (Director General of Department of Commerce) unveiling the developments of the two day session, said: “As we sign the agreed minutes of the first Sri Lanka-Belarus Joint Commission on Trade and Economic Cooperation, I am pleased to report of significant developments-the next Joint Commission on Trade and Economic Cooperation session between the two countries will be held in Belarus next year and the dates to be finalised with agreement of both sides in the due course. Meantime, trade officials of both sides will travel to each other destinations to implement decisions taken during this session.
The other significant development being two joint ventures in motor vehicles and one in pharmaceutical / medical sector. The joint venture for manufacturing of tractors is being finalised at this moment. This project between a local party and Minsk Tractor Works is to come up in the Ruhunu Magampura International Port’s industry zone. The tractor project is a positive result of the tour of President Mahinda Rajapaksa to Belarus in August 2013. Equally important is that the removal of such barriers to trade as high import duties (on both sides), and tax on remittances, which have come under July 10’s discussion. The pharmaceutical joint venture is on medical devices rather than generic drugs. Belarus would start this venture here initially with training of Lankans in their advanced medical technology.”
Sri Lanka also intimated the transhipment potentials of Ruhunu Magampura International Port for Belarus’ vehicle industry which reports annual export of more than $ 6 Bn to 140 countries. The Magampura port is a free-port and offers a new opportunity for Belarus automotive makers –specially Minsk Tractor Assembly-who already have been shipping to Bangladesh, Vietnam, Laos and Cambodia using Lithuanian and Latvian ports since Belarus is landlocked. Belarus mulls that an offshore vehicle manufacturing JV in Ruhunu Magampura International Port would help their manufacturers towards faster and greater reach in the competitive South and SE Asian regional automotive markets.
Senani Perera (CEO-Micro Cars Limited), who was at Taj Hotel session, revealed: “We met reps from Minsk Automobiles Plant and we are very impressed with their products, specially buses and trucks. We look forward to further dialogue with them to develop a healthy business relationship. We have not decided on a specific item but are looking at their commercial trucks and commercial buses. In fact, rollout of commercial trucks would be a first for Micro.” Established in 1999 by automobile engineer, Dr. Lawrence Perera, Micro Cars Limited remains the only national car manufacturer in Sri Lanka with the distinction of holding a patent for small city cars.(KH/SI)
