Belarusian President Alexander Lukashenko said last week that Minsk and Moscow have settled issues related to the sale of cars on the Russian market.

Lukashenko said that the supply of Geely cars made by a Belarus-China joint venture will not negatively impact the Russian car market, according to BelTA, the country's national news agency.

"We have agreed that we will supply about 25,000-30,000 cars, which accounts for about two percent of the Russian car market," Lukashenko said, BelTA reports. "We will hardly be able to manufacture more considering the existing capacity."

In 2013, the Chinese manufactured about 50,000 Geely cars in Russia and sold all of them.

"The Germans and French could not do it, while the Chinese expanded their sales in Russia by about 46 to 48 percent last year," Lukashenko said, according to BelTA. "The sales of other manufacturers dropped. It is up to Russians to decide. If they want to buy this car, let them buy it. If this car is of low quality, it will sell neither in Belarus nor in Russia."

The joint venture is expected to produce about 250,000 cars a year.