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Russia and Belarus Sign Cooperation Agreement
Russia and Belarus signed an agreement on measures for developing economic and trade cooperation. The agreement stipulates canceling the existing restrictions and defensive measures in mutual trade of the two countries, and simplifying customs procedures between them.
Russia and Belarus also signed the agreement on sugar supplies to Russia in 2007-2008. Belarus is to supply 180,000 metric tons of sugar in 2007, and 100,000 metric tons in 2008.
The capacity of Russia’s sugar market makes up $4.2 billion annually. The share of imported white sugar is $0.4 billion. The import of white sugar from foreign countries, except Belarus, is liable to customs duties just like the import of cane sugar.
According to the Institute for Agricultural Market Studies, production facilities of all sugar factories in Russia allow to produce nearly 12.5 million of metric tons of sugar, with the actual production of less than 6 million metric tons.
www.kommersant.com
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