Belarus and Ukraine have developed a roadmap for setting up joint companies to produce agricultural equipment, First Vice Premier of Belarus Vladimir Semashko told BelTA as he commented on the meeting of the delegations of the two countries to discuss trade and economic cooperation.

According to Vladimir Semashko, the document accommodates the interests of both the sides. “Ukraine is set to double its grain production and increase the exports. We are ready to provide assistance in renewing the Ukrainian machine and tractor fleet,” he said. The document envisages the creation of the companies to produce Belarusian combine harvesters, tractors, ploughs and other agricultural equipment.

The parties discussed possible financial instruments, which application could prompt industrial cooperation processes. In particular, Belarus has already been using the schemes that envisage preferences for its customers. “Ukraine, for its part, should support its producers, provide soft loans to farmers that purchase this equipment. Both the parties understand they should do it,” the Belarusian official said.

The parties agreed to a meeting between the heads of the Belarusian companies and representatives of the banking sector of Ukraine to specify mutually beneficial positions. If needed, the sides will develop an intergovernmental agreement by the end of September with clear-cut guarantees for both the producers and customers. “I think this roadmap will work. Moreover, when we take a look at the statistics of equipment supplies to Ukraine, we can see it growing by 18% despite all the talks about the recession. It means that the measures that have been worked out earlier start bringing results. I believe the growth will be much higher in the future,” Vladimir Semashko added.