Belarusian steel mill seeks to diversify export markets

The Belarusian steel mill BMZ plans to develop export diversification strategies, Aleksandr Sakovich told journalists. On 12 May, Belarusian President Aleksandr Lukashenko approved his appointment as Director General of Belarusian steel mill BMZ, the managing company of the Belarusian Metallurgical Company Holding, BelTA has learned.

“The head of state set concrete tasks regarding export growth, improving management efficiency, and identifying internal reserves,” Aleksandr Sakovich stressed.

Speaking about foreign markets, he noted that BMZ is an export-oriented enterprise. “Given the sanctions introduced in 2022, European markets became inaccessible for the company. Currently, export shipments are concentrated in the Russian market, but alternative markets require analysis and diversification. This includes entering CIS markets and other regions,” the BMZ director general emphasized.

He added that the company was also tasked with repaying state support previously provided and taking the necessary decisions in this regard. “The enterprise received substantial financial assistance: in 2021, its debt obligations were restructured. In addition, a number of other support measures were adopted at the level of the head of state and the government. Therefore, the key priority now is to maximize the use of the company’s internal reserves,” Aleksandr Sakovich concluded.