Photo courtesy of the Development Bank
MINSK, 21 May (BelTA) – Another export project of the Development Bank of Belarus is meant to ramp up trade with Cuba, BelTA learned from the press service of the Development Bank.
“The president of Belarus has set a task for the country's economic team to translate the high level of political relations with Cuba into effective mutually beneficial projects in manufacturing, agriculture, pharmaceutics, food production and other promising sectors. Thus, the Development Bank has been supporting the export of Belarusian products to this Latin American country for 10 years. During this time, the financial institution has concluded 17 credit agreements to finance the export of trucks and agricultural machinery, as well as powdered milk, to Cuba. It is important that cooperation opportunities are materialized in the form of new projects,” the press service emphasized.
On 20 May, the 12th meeting of the Belarus-Cuba commission on trade and economic cooperation was held in Havana. Taking part in it was Chairman of the Board of the Development Bank Sergei Stolyarchuk. During the meeting, representatives of the business communities of the two countries thrashed out plans to deepen bilateral cooperation and implement projects in various sectors of the economy. The event culminated in the signing of the final protocol and bilateral documents, including another export credit agreement by the Development Bank.
“It is gratifying to note that our partners are equally interested in making the most of bilateral cooperation. Over the past year, we signed six credit agreements, and they are already bringing results. Today, we have signed another such document. It provides for the supply of 48 Belarus-made tractor kits to be assembled by Cuban workers. Thus, the Development Bank contributes not only to the economic growth of the two countries, but also to the creation of jobs in Cuba,” said Sergei Stolyarchuk.
Last year Belarus shipped tractor kits to Cuba, for the first time in the history of bilateral relations. This became possible due to the support of the Development Bank.
“At first Belarus supplied finished products to the Latin American country, but now it delivers tractor kits to be assembled by Cuban specialists. This represents huge progress in bilateral cooperation. There are more projects ahead. The Development Bank will provide financing to supply spare parts to upgrade and repair Cuban agricultural machinery, and to set up modern joint ventures in the food industry and mechanical engineering with the subsequent sale of products to third countries,” the press service noted.
Sergei Stolyarchuk took part in the business forum and held talks with the management of the central bank and commercial banks of Cuba.
The chairman of the Board of the Development Bank and other members of the Belarusian delegation will also visit the capital of Nicaragua to take part in a series of business meetings and to sign major export agreements.
“The president of Belarus has set a task for the country's economic team to translate the high level of political relations with Cuba into effective mutually beneficial projects in manufacturing, agriculture, pharmaceutics, food production and other promising sectors. Thus, the Development Bank has been supporting the export of Belarusian products to this Latin American country for 10 years. During this time, the financial institution has concluded 17 credit agreements to finance the export of trucks and agricultural machinery, as well as powdered milk, to Cuba. It is important that cooperation opportunities are materialized in the form of new projects,” the press service emphasized.
On 20 May, the 12th meeting of the Belarus-Cuba commission on trade and economic cooperation was held in Havana. Taking part in it was Chairman of the Board of the Development Bank Sergei Stolyarchuk. During the meeting, representatives of the business communities of the two countries thrashed out plans to deepen bilateral cooperation and implement projects in various sectors of the economy. The event culminated in the signing of the final protocol and bilateral documents, including another export credit agreement by the Development Bank.
“It is gratifying to note that our partners are equally interested in making the most of bilateral cooperation. Over the past year, we signed six credit agreements, and they are already bringing results. Today, we have signed another such document. It provides for the supply of 48 Belarus-made tractor kits to be assembled by Cuban workers. Thus, the Development Bank contributes not only to the economic growth of the two countries, but also to the creation of jobs in Cuba,” said Sergei Stolyarchuk.
Last year Belarus shipped tractor kits to Cuba, for the first time in the history of bilateral relations. This became possible due to the support of the Development Bank.
“At first Belarus supplied finished products to the Latin American country, but now it delivers tractor kits to be assembled by Cuban specialists. This represents huge progress in bilateral cooperation. There are more projects ahead. The Development Bank will provide financing to supply spare parts to upgrade and repair Cuban agricultural machinery, and to set up modern joint ventures in the food industry and mechanical engineering with the subsequent sale of products to third countries,” the press service noted.
Sergei Stolyarchuk took part in the business forum and held talks with the management of the central bank and commercial banks of Cuba.
The chairman of the Board of the Development Bank and other members of the Belarusian delegation will also visit the capital of Nicaragua to take part in a series of business meetings and to sign major export agreements.
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