Business news

MINSK, 24 July (BelTA) – Belarus can boost the export of equipment to Ukraine several times, Belarusian Deputy Prime Minister Vladimir Semashko said in an interview with ONT TV Channel, BelTA has learned.

“If we combine the Belarusian and Ukrainian subsidies we will be able to increase the export of our tractors, combine harvesters, and other equipment (tractors, for instance) several times. Ukraine’s fleet of tractors includes some 200,000 vehicles, with 90% of it being outdated. We estimate that Ukraine needs to upgrade 20,000 vehicles per annum. We have been exporting from 3,000 to 3,500 tractors so far. I think these supplies can be increased threefold or fourfold,” Vladimir Semashko noted.

He remarked that currently there are seven joint assembly plants in Ukraine. We have agreed to increase the level of localization as this will make our equipment eligible for subsidies. This will benefit everyone,” the deputy prime minister added.

In his words, there are six joint ventures set up in Belarus in cooperation with Ukraine. “We should take advantage of this situation: Belarus is a member of the EAEU that has a market of 180 million people while Ukraine is, in fact, an associate member of the European Union. If there is a large share of local content, the goods can move freely in the market,” Vladimir Semashko summarized.