Business news

27 Feb 2018

Loans for Egyptian farmers to buy Belarusian tractors

MINSK, 27 February (BelTA) – Egyptian farmers can get loans to buy Belarusian tractors, BelTA learned from Dmitry Schastny, Deputy Marketing Director for Non-CIS Markets, Head of the Non-CIS Promotion and Sales Office in the marketing division of the Belarusian tractor maker MTZ, during the international conference held on 27 February for representatives of MTZ’s distribution chain.

MTZ believes that this year tractor export to Africa can be greatly increased thanks to larger shipments to Egypt, which economy is experiencing a revival. MTZ’s trading house in Egypt stepped up its work in 2017. Modern assembly equipment was commissioned. Schemes for interaction between Belarusian and Egyptian banks, which are ready to lend money to Egyptian farmers for buying MTZ products, were worked out.

Apart from that, MTZ greatly expanded its distribution network in Egypt in 2017. No record export figures were secured last year but centralized sales and the establishment of an assembly enterprise should reinforce MTZ’s position on the market in 2018.

As far as the entire African market is concerned, the work of MTZ representatives in South Africa and Nigeria is under consideration. Work is in progress on projects to start assembling MTZ products in South Africa and Angola. Cooperation with Ethiopia has been stepped up. After a lengthy break the Belarusian company shipped 27 tractors to Ethiopia. The Belarusian company also won a tender for the delivery of tractors, trailers, and ploughs. The products were delivered in January 2018, with the payment collected in full. “We intend to advance cooperation in 2018 and at least double the shipments,” noted Dmitry Schastny.