"To further develop the automobile business in Cuba and strengthen Kamaz's place on the country's market, we and the Cuban side are considering the possibility of establishing a trade and service company to sell, service and repair Kamaz trucks, as well as an assembly facility with a production capacity of 500 trucks a year," Kamaz said in a press release.
Over 200 Kamaz trucks have been delivered to Cuba in 2008 as part of a Russian loan to the country.
Kamaz, based in the Volga Republic of Tatarstan, produces more than 30 models of trucks, as well as trailers, buses, tractors and spare parts. It also manufactures engines, power units, and components.
The company has assembly facilities in Poland, Kazakhstan, Azerbaijan, Ethiopia, Vietnam and Ukraine.
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One of the main achievements of the 6th BRICS Summit was the signing of an official document on establishing a New Development Bank with a declared capital of $100 billion. The creation of the bank is an important step towards institutionalizing BRICS and strengthening its positions in the world in the long run.