The Belarusian Agriculture and Food Ministry on Monday signed a roadmap with two Chinese companies on agricultural and food cooperation.
According to the roadmap, the two Chinese companies, Xinrongji Holding Group and DRex Food Group, will invest an estimated 1 billion U.S. dollars in modernizing the enterprises in Belarus and building new ones, according to local media.
A joint venture to be soon established with China in Belarus will export Belarusian agricultural products and food to China, with a monthly turnover of about 10 million dollars, said Belarusian Minister of Agriculture and Food Leonid Zayats.
In the future the joint venture will be authorized to purchase stakes in Belarusian dairy plants and expand the product range.
The Chinese companies also informed Belarus of their intentions to buy a stake in the Bank Moscow-Minsk, a top 10 bank in Belarus, and establish an enterprise in the China-Belarus industrial park Great Stone, which produces a new type of packaging using polylactide, replacing plastic and polyethylene packaging.
In the first quarter of this year, Belarus has increased the export of agricultural products to China to 4.2 million dollars.