Belarus and Russia have reached an agreement on the formation of a holding company based on MAZ and KaMAZ, Belarus PM Mikhail Miasnikovich reported to Aliaksandr Lukashenka.
The President and the Prime Minister discussed the ways to implement the arrangements reached during the St. Petersburg meeting of the prime ministers of Belarus, Russia and Kazakhstan on 15 June. This pertains to a coordinated industrial policy and integration of industrial companies in the context of the Single Economic Space (SES).
The PM informed the President about approaches to the formation of the joint holding company incorporating MAZ and KaMAZ. The new company will be based on the management parity.
“Belarus will benefit from this integration. First of all, it is a common market of vehicles where we sell 77% of MAZ machines. We can enter the market via cooperated deliveries, which means specialization within the joint holding company. Avtokomponenty holding company could be actively involved in cooperation with the new joint holding company,” Mikhail Miasnikovich said.
KaMAZ owners gave the green light to the project, the Premier informed. The President of Belarus also agreed to it. Now the government will start preparing the necessary documents.