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Russia invites Belarus to set up joint ventures in sphere of space technologies

MINSK (BelTA) – Russia invites Belarus to set up joint ventures and integrated structures for exploring space technologies. Director General of the Russian state space industry corporation Roscosmos Dmitry Rogozin made the statement after meeting with Belarus President Aleksandr Lukashenko, BelTA has learned.

Dmitry Rogozin said: “Today we are starting cooperation on a large scale. In the past there were talks about Russian integrated structures buying some Belarusian enterprises. I don't think it is the totally correct way of doing things. Because we will get mired in debates about value assessment and everything will come to naught as a result. We are not talking about buying some assets from each other but about multiplying these assets within the framework of joint ventures and integrated bodies. It is the way I like and the Belarusian head of state has approved of today.”

Negotiations on the possibility of integrating the Belarusian company OAO Peleng with Roscosmos have been going on for quite some time. In 2014 Belarus and Russia agreed the market value of 100% of OAO Peleng's stock at $590 million. However, the sides failed to come to terms on other essential integration terms in the end. The Russian side failed to honor the main commitment regarding the development of proposals on OAO Peleng's participation in developing the scientific and manufacturing potential of Russia's space industry, in implementing projects for the research and development of space technology products as part of existing programs and new ones. The implementation of the project to integrate OAO Peleng into Roscosmos was virtually put on hold in mid-2015.