Russia’s Economic Development Ministry and Magnitogorsk Iron and Steel Works have today signed an international cooperation agreement. Economic Development Minister Alexei Ulyukaev and OJSC Magnitogorsk Iron and Steel Works (MMK) CEO Pavel Shilyaev signed the agreement.

The agreement covers information exchange, sharing specialist and consulting expertise, holding events including those involving Russian trade representation abroad and those taking place under the auspices of intergovernmental commissions on trade, economic, scientific and technical cooperation between Russia and other countries. It aims to foster contacts between MMK and international partners, and will run for three years with an option to prolong it for a further three year period.

“This agreement, signed today, will become a solid legal basis for the further development of business cooperation with our external partners. We are always in close contact with Russian trade representations in countries that are of commercial interest to us. The document signed today takes this engagement to a qualitatively new level. On behalf of the company, I would like to thank my colleagues in the Economic Development Ministry for continuing to work to support our industry and its international endeavours, especially during this challenging time,” MMK CEO Pavel Shilyaev said.