Belarus Not to Sell MAZ to Russia: Belarus' PM

Belarus will not sell Minsk Automobile Plant (MAZ) to Russia's KAMAZ, said Belarusian prime minister Mikhail Myasnikovich on Wednesday.

According to the head of the government, the parties are considering a possibility to establish a consortium of the two companies. "It has nothing to do with selling MAZ to KAMAZ. The negotiations are underway, a decision has not been made yet, not about selling MAZ. For example, 49 percent of MAZ's shares might be given into trust management of the consortium," said Myasnikovich.

He explained that the same is expected to be done by KAMAZ and other Russian companies seeking to do business together in the Customs Union and in third countries.

Myasnikovich said that in times of globalization the country needs to employ new forms of work avoiding isolation from the outside world because it is more profitable to compete within big corporations.

The head of the government said that Belarus plans to create strong international corporations very soon, based on the fact that "more profitable to compete being big players."


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