10 maj 2015

Joint Press Release of Belarusian Potash Company and Sinochem Group on the signing of the Memorandum of Cooperation.

This Memorandum of Cooperation, one of the important outcomes of Chinese President Mr. Xi Jinping’s visit to Belarus and friendly talks with Belarusian President Lukashenko, builds on and is the natural outcome of the long-standing and fruitful cooperation between Sinochem Group and Belarusian Potash Company.

The Memorandum has been entered into for a term of 5 years from 2015 to 2019 becoming yet another testament to the diverse prospects for cooperation between the Republic of Belarus and the People’s Republic of China. This Memorandum has been signed by Mr. Liu Deshu, Chairman of Board of Sinochem Group and Ms. Elena Kudryavets, Director General of Belarusian Potash Company.

Highlights of recent years include significant and compelling achievements in streamlining shipments of Belarusian potash to the PRC market, enhancing logistical solutions and diversifying product offerings.    

BPC and Sinochem Group intend to make continued joint efforts that address emerging issues related to potash fertilizer exports and imports, whereby the parties undertake commitments to sell and purchase 4 million t of Belarusian potash fertilizers during a term of 5 years.

This quantity includes both firm and optional volumes. The total value of the fertilizer to be supplied to the PRC shall be around $1.3 billion on a current value basis. The exact price level is subject to further discussion.

The parties are confident that the Memorandum shall contribute to the market development and strengthen long-term and mutually beneficial collaboration both between the parties and the countries in general.

Mr. Liu Deshu, Chairman of Board of Sinochem Group, pointed out that “With a long-term, friendly and strategic cooperation relationship, Sinochem and BPC are complimentary to each other in terms of market and product and enjoy a sound foundation and a broad prospect for cooperation. We believe that under the principle of mutual benefit, we will continue to deepen our cooperation, cultivate our friendship, work together to support and guarantee China’s agricultural development and food security and make persistent efforts in active response to Chinese President Xi Jinping's strategic conception of One Belt and One Road.

Elena Kudryavets, Director General of Belarusian Potash Company, noting the importance of the signed document, stressed that “We value respectful and trust-based relations established between Sinochem Group and BPC that are predicated on harmonious and balanced market development. Our track record in delivering potash fertilizers to the PRC suggests that BPC will continue to be a leader in this market. We are interested in further cooperation supporting the companies’ growth and having a positive effect on the development of Belarusian-Chinese relations in general.”