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12 June 2024, 12:12

Minsk Tractor Works to ship tractor kits to Cuba to launch assembly production

MINSK, 12 June (BelTA) – Minsk Tractor Works is getting ready to ship the first batch of tractor kits to Cuba for arranging assembly production. This was agreed at the 11th meeting of the Belarus-Cuba joint commission on trade and economic cooperation in Minsk on 12 June, BelTA has learned.

A contract for the supply of Belarusian tractors was signed after the meeting. 

MTZ Deputy Director General for Marketing - Marketing Director Mikhail Kadnikov told BelTA that the contract provides for the shipment of the first batch of tractor kits to launch assembly production in Cuba. The kits are to be delivered in the third quarter of this year.

The parties also signed a protocol to the intergovernmental agreement on mutual supplies. It sets a new bar for trade - up to $15 million for each party over 5 years. The figure seems small, but in fact it is an ambitious task, given that over the previous 10 years the trade in goods was even smaller.

Another important document signed at the meeting was an agreement of intent to create a joint venture. It was inked by the National Academy of Sciences of Belarus and BioCubaFarma, the Cuban organization of Biotechnology and Pharmaceutical Industries.
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