Business news

MINSK, 29 June (BelTA) - Belarusian Potash Company (BPC) and Indian Potash Limited (IPL) signed a memorandum of understanding, BelTA learned from the press service of the Belarusian Potash Company.

The memorandum is about the regular deliveries of Belarusian potash fertilizers to India and is valid for 5 years. "The document is further evidence of the close cooperation between Belarus and India. The memorandum implies regular supplies of potash from Belarus to the Indian market from 2016 to 2021,” the press service said.

Belarusian Potash Company noted that in recent years significant results have been achieved in improving logistics and diversifying the product supplies to the Indian market. "The agreement underlines the desire of BPC and IPL to join forces in addressing the critical issues regarding the export and import of mineral potash fertilizers," the press service added.

The parties are confident that the MOU will contribute to the development of the market, and will help strengthen the long-term mutually advantageous cooperation.

Speaking about the importance of the agreement, BPC Director General Yelena Kudryavets noted: "We very much value our trusted partnership with IPL which is based on mutual respect and shared views about the sustainable harmonious development of the market. We believe that the memorandum will serve to strengthen the positions of BPC in the Indian market and will also be an important factor in the development of agriculture and improving food security of that country.”

OAO Belarusian Potash Company (BPC) was established in September 2013 to promote Belarusian potash fertilizers to foreign markets. These products are exported to India, China, Europe, Central and South America, the Asia-Pacific region, Africa and the Middle East.

Indian Potash Limited is India’s largest importer of mineral fertilizers.