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The Ukrainian and Belarusian governments have signed a memorandum on cooperation in the energy sector.

Ukrainian and Belarusian First Deputy Prime Ministers Oleksandr Turchynov and Vladimir Semashko signed the document on January 20, an Interfax-Ukraine reporter said.

The documents were signed in the presence of Ukrainian and Belarusian Presidents Viktor Yushchenko and Alexander Lukashenko.

Yushchenko and Lukashenko emphasized the importance of closer collaboration between their countries in the transit of energy and cargo.

"We should be a significant player in the transit industry," Yushchenko said.

The two countries are, for example, in a position to become instrumental in "the Eurasian oil transportation corridor," he said.

Lukashenko said the Odessa-Brody pipeline project remained important for Belarus. "We would be able to supply oil for the Baltic states and Poland through our transportation system," and it would be a profitable business for Belarus to refine Caspian oil if the project materialized, he said.

Yushchenko said that at the talks the sides had also discussed the implementation of the Eurasian oil transport corridor.

He said that he would present this project to the European Commission in Brussels in the coming week.

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