Business news

Belarus, Cuba sign agreement of intentions to set up joint pharmaceutical company

MINSK, 12 June (BelTA) - The National Academy of Sciences of Belarus and the BioCubaFarma, the Cuban organization of Biotechnology and Pharmaceutical Industries, signed an agreement of intentions to establish a joint pharmaceutical company. The document was signed in Minsk following the meeting of the Belarusian-Cuban joint commission on trade and economic cooperation, BelTA has learned.

The parties also signed a protocol to the intergovernmental agreement on mutual supplies, a contract for the supply of Belarusian tractors and minutes of the 11th meeting of the joint commission on trade and economic cooperation.

The protocol to the agreement on mutual supplies sets a new bar for trade exchange - up to $15 million for each of the parties within 5 years. The figure seems small, but in fact it is an ambitious task, given that over the past ten years the exchange of goods has been carried out for a much smaller amount.

print version

make home page

add to bookmarks