Agreement with India and Bangladesh to improve the situation in Belarusian industry

On June 24th, the Belarusian Potash Company signed the agreement with Bangladesh to deliver 180000 tons of potash. In 2015, Bangladesh was the fifth largest buyer of Belarusian potash fertilisers with a total worth of USD 110 million. Chemical industry is projected to grow; however, the absence of a contract with China is unlikely to let Belarus to achieve the 2015 production standard. In addition, revenues from export duty on potash fertilizers and income taxes, are likely to increase and financial performance of Belaruskali is likely to improve. The chemical industry has a lion’s share in Belarus’ total industrial output and the signing of a contract with China could to help bringing the industry to the 2015 standard.