General manager of factory "Minski traktorski zavodi" (MTZ) from Belarus, Aleksandar Puhovoj, and the manager of Novi Sad-based "Agropanonka", Dragoljub Švonja, have signed the agreement in Novi Sad on forming of the joint venture for production of tractors "Belarus".
That formal ceremony took part in the presence of the President of the Executive Council of Vojvodina, Bojan Pajtić, who pointed out that 100 new jobs would be created in the first phase and that those tractors would be 15% cheaper than the imported tractors.
The first tractors should be produced in the new factory by next spring and they should be represented at the Agricultural Fair in Novi Sad. They will have 80-100 horse powers and 51% of the parts will be made in Serbia.
According to the words of Puhovoj, that famous Belarus-based factory exported 40,000 tractors to more than 40 countries in 2005, whereas this-year sale on the foreign markets should be increased by 25%.