Business news

MINSK, 18 December (BelTA) – Belarus and China plans to set up a joint venture to advance Belarusian products to the Chinese market, Belarus’ Agriculture and Food Minister Leonid Zayats said in an interview to Belarus One TV channel commenting on the results of his visit to China, BelTA has learned.

“We have agreed with one of the leading Chinese companies to set up a joint venture in China to promote our products. This is the largest Chinese company, which has 6,000 outlets. They plan to cooperate with Belarusian partners in terms of supplying our food products to the Chinese market,” the minister said.

According to Leonid Zayats, representatives of Drex Food Group will arrive in Belarus in the near future to sign an investment agreement worth $250 million. The funds will be invested in the construction of dairy complexes in Vitebsk Oblast. “Their task is to develop dairy cattle breeding, then process this milk at one of the region's enterprises and ensure the supply of the finished product to the Chinese market, which is the business that will bring economic interests of Belarus and China closer,” he said.

The minister stated that Belarus and China have a lot to work on. “We just need to strengthen our presence in this market,” he stated.