Belarus - Belgospishcheprom to Become Co-Founder of North-Western trading House

The innovation fund of the Belgospishcheprom concern will allocate an equivalent of RUB25 million for the concern to put in the authorized fund of the North-Western Russian-Belarusian Trading House (St. Petersburg). The Council of Ministers adopted relevant resolution No. 1161 on 10 September.

This sum is non-repayable. Within a month the concern will put it in the authorized fund of the trading house thus becoming its co-founder. The necessary papers have already been signed.

The trading house was co-founded by the enterprises of the Belarusian Ministry of Agriculture and Foodstuffs (the Slutsk cheese-making plant and Minsk dairy No. 3) and by Russia's Lenkhladkombinat No. 4 and No.5.

The joint enterprise North-Western Russian-Belarusian Trading House was set up in April 2007. Company stores of Belarusian enterprises were opened in Saint Petersburg and North-Western Region of Russia. This helped establish direct trade in Belarusian products. Due to the establishment of the North-Western Russian-Belarusian Trading House the Belarusian export to the Russian regions significantly increased. The inclusion of the Belgospishcheprom concern in the structure of co-founders of the trading house is viewed as a promising and efficient way to boost the Belarusian exports to the Russian Federation.

"This will allow the enterprises affiliated with the concern to develop their own distribution network and open new stores. The further improvement of the distribution network and establishment of joint integrated structures will help expand and diversify the offer of Belarusian products in Saint Petersburg," the Belgospishcheprom concern said.



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