Belarus to Supply Potassium Fertilizers in Exchange for Oil to Venezuela :: Charter'97 :: News

Belarus will supply 300,000 tons of potassium fertilizers to Venezuela annually, which would allow our country to occupy 35 per cent of Latin American market of potassium. The contract for supply of those products was signed in Caracas, Venezuela during a visit of Belarusian delegation headed by the Security Council secretary Viktar Shejman.

As informed by the First National TV channel, agreements on creation of a joint venture for work in oil reserves in the Orinoco river basin. Venezuela is one of the world leaders in oil production in export. In total proven oil reserves it takes the fifth position in the world and the first in Latin America. The oil sector gives the country more than one third of the GDP, and more than 50% of the national budget profits.

During the visit a number of bilateral agreements has been signed on deliveries of Belarusian motor vehicles o Venezuela. Next year regular deliveries of Belarusian heavy-duty dump trucks of Belarusian Automobile Plant are to start. The agreements paved the way for automotive vehicles of “Amkodor”, MAZ, “Gomselmash” to Venezuelan market as well. Not only export, but creation of assembly enterprises is planned.

Belarus will import from Venezuela geologic utilities that would help in developing of oil reserves. Our country is also planning to share experience of creation of agro-industrial zones, construction technologies.

In the near future a high-level commission is to be created, which is to solve concrete issues of bilateral cooperation.