Belarus President suggests more active cooperation to Chinese CITIC
08 August 2008
Alexander Lukashenko has suggested that Belarus and Chinese
corporation CITIC should cooperate more actively.
The Belarusian side encourages CITIC to more actively come to
Belarus, said the Belarusian head of state as met with CITIC CEO
Kong Dan on August 7.
“You know our capabilities and
needs. This time we are very much interested in civil engineering.
If your specialists are also interested in it, we would be
delighted to present projects and ideas of the Belarusian
construction industry in detail,” remarked the President.
In his words, at present China has to slow down the growth to
avoid “overheating” the economy. “Whether you want it or not, you
will have to work and build abroad. We would like CITIC to work
more actively in Belarus. I would like to ask you one thing: if you
decide to work in Belarus, you should act fast,” said Alexander
Lukashenko. “Let’s discuss cooperation avenues in the nearest
future. If it is possible, come to Belarus. The government will
consider many projects as CITIC is a very versatile company with
various business avenues — from government to finance. I think you
will find your own place in Belarus”.
The President told Kong Dan the Belarusian side is interested
in CITIC’s assistance in setting up a similar company albeit a
smaller one in Belarus.
“Using this example we could set up even several companies in
Belarus. We highly value the experience of the People’s Republic of
China in creating exactly such state-run companies, though I admit
private capital may be involved. With your aid we would be able to
implement the project twice as faster. I see a lot of advantages in
this regard including the fact that such a corporation can train
top-qualification managers,” added the President.
Belarus established the first contacts with CITIC in 2007
with a view to implementing investment projects. A project for
building three cement plants and modernising power supply of
Belarus’ three existing cement plants has been implemented.
Kong Dan said, CITIC Group was founded in 1979. At present it
has both financial and non-financial business interests. The latter
include exploration of natural resources, infrastructure
development, and contractual work.
Nowadays the total assets of CITIC Group exceed $200 billion.
Speaking about the corporation’s cooperation with Belarus in
building the three cement lines, Kong Dan remarked both the sides
had signed relevant contracts not so long before. “As far as I know
the financial part has been decided on. We are interested in
accelerating the implementation of the project in order to make a
contribution to promoting cooperation between Belarus and China.
CITIC is an honest partner you can trust. We will do our best to
implement the project,” he underscored.