Lukashenka meets with Russian billionaire Deripaska

• 20.05.2008, 18:19

Alyaksandr Lukashenka on Monday met with Russian billionaire Oleg Deripaska who owns Basic Element, the holding company for a rapidly expanding mining and manufacturing empire, said Belarusian state media.

The Belarusian leader was quoted as saying that "cooperation" with Russian Machines under Basic Element had good prospects.

"I know well about your proposals and an interest of Russian companies in the Belarusian machine building industry," Mr. Lukashenka was quoted as saying. "In order to receive the maximum benefits possible from projects and survive a tough competition it is necessary to work together, unite our efforts in our common interests. We are ready to build relations on the basis of market, civilized methods. I find the proposals that you made a year ago attractive."

Mr. Lukashenka said that "a deterrent to relations" was the fact that Belarus had then received "similar proposals" from Russian truck maker KamAZ.

"I am ready to take a decision if we agree on approaches and a common vision of prospects," he said.

The report did not specify the proposals.

It quoted Mr. Lukashenka as saying that the Belarusian machine building industry had recently been significantly modernized. "In fact, we could compete on own, but it should be understood that we will do more together. We will do this exclusively in the interests of Belarus, you will naturally do this in your own interests."

Earlier reports had it that Russian KamAZ sought to buy control of the Minsk Automobile Factory (MAZ).

"For us, a strategic issue is the need to identify our partners for the next 10-15 years in the context of increasing competition in international markets," Mr. Deripaska said. "That is why if there is an opportunity, it is necessary to provide customers with the best conditions and take relevant decisions for this. Belarus and Russia will open new markets, and that is why how we will compete with European manufacturers is important, too."