In an interview with news agency “RIA Novosti” Prime Minister of Belarus spoke about the reasons for the termination of the merger of MAZ and the Russian Kamaz.
“Given the difficult economic conditions, found today in the automotive market of the Eurasian Economic Union, in September 2015, during a meeting of the Union State Council of Ministers, it was decided to temporarily suspend work in this direction,” said Kabyakou.
According to the Belarusian Premier, the Russian side has its own views on the integration, thinking mostly about ownership of the property with the prospect of further management. The Belarusian side, on the other hand, is interested in “efficient use” of the property.
Kabyakou noted the example of Minsk Wheel Tractor Plant.
“It is very promising enterprise. We have discussed the possibility of selling a controlling stake, provided that the partners will invest in the further development of this enterprise. If need be, they can be three times higher than the estimated value of the controlling interest. First there was understanding. Then, apparently, the situation changed a bit as to the views and possibilities. We were simply offered to sell a controlling stake. On the one hand, having money is good, and on the other — is it what we fought for?” said Andrei Kabyakou.