Avtovaz sees payment delays for some purchases from China

MOSCOW. Aug 2 (Interfax) - Leading Russian carmaker Avtovaz is experiencing delays in payments to Chinese counterparties for certain purchased items, the company's government relations director, Alexander Vinogradov told reporters on the sidelines of the twelfth Taxi International Eurasian Forum on Thursday.

"There are delays in payments. Not for all items, but it happens," he said when asked if the company was having problems with mutual settlements with Chinese partners.

The company generally manages to resolve these problems, he said. "There is cooperation, we're talking. Difficulties arise, we resolve them in one way or another. China, unlike Kazakhstan and Uzbekistan, is somewhat more pragmatic," Vinogradov said.

Avtovaz president Maxim Sokolov said at the St. Petersburg International Economic Forum in June that the company's partners in Kazakhstan and Uzbekistan are not rushing to resume joint production projects.

"Our export partners are changing. Before, we wagered on Kazakhstan and Uzbekistan, which we're not counting out yet. But, unfortunately, truth be told, our partners are currently reluctant to restore our joint projects that we had in Kazakhstan and in Uzbekistan. Although we have repeatedly proposed, confirmed our plans and intent to restore [projects] across the whole product line, including the Lada Vesta, in forums of the highest level, I would even say very highest level. But, nonetheless, there has been no progress," Sokolov said.