Business news

MINSK, 10 May (BelTA) – A memorandum of understanding between Belarusian Potash Company (BPC) and Sinochem on cooperation in respect of deliveries of Belarusian potash fertilizers were signed in Minsk, BelTA has learned.

The document was signed by BPC Director General Yelena Kudryavets and Chairman of the Board of Sinochem Group Liu Deshu.

As was reported, during the meeting with Mr Liu Deshu, Chairman of the Board of Sinochem Group, Belarus Prime Minister Andrei Kobyakov said that Belarus would like to see Sinochem take part in the investment projects in the petrochemical industry, and in establishing mutual supply of raw materials produced by Sinochem and the goods made by Belarusian organizations.

Sinochem, represented by its subsidiary company Sinofert, is one of the main buyers of Belarusian potash fertilizers, and has been cooperating with Belarusian Potash Company (BPC) since its founding.

"The memorandum with China’s largest potash producer has the longest period of validity of five years, and provides for the largest volume of deliveries. I hope that the visit to our country will give further impetus to the development of mutually beneficial Belarusian-Chinese trade and economic relations,” said the Belarusian head of government. "The signing of this memorandum will bring to a qualitatively new level the practice of concluding long-term agreements with Chinese companies," the Belarusian Prime Minister said.

Sinochem Group is the largest trader of petrochemical and chemical products in China. The company is involved in oil production, oil refining, production and processing of rubber, production of chemical goods.