Business news

12 Jul 2023

China's AEEX to assist with Belarus’ exports to China via Belarusian commodity exchange

Photo courtesy of BUCE

MINSK, 12 July (BelTA) - Xinjiang Asia-Europe International Trading Center, АЕЕХ will help increase exports to China via Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

АЕЕХ, the operator of the Asia Europe Exchange electronic trading platform, will assist the Belarusian Universal Commodity Exchange in increasing Belarus’ exports to China by means of providing information support and assistance in organizing business events in China and attracting Chinese importers to BUCE exchange trading.

"Currently, China's economy is actively recovering from the pandemic. The demand for raw materials, materials and finished products is growing, and e-commerce, which is widely used in the country, provides a good opportunity to engage commodity exchange instruments. Therefore, it is very important to consolidate efforts and offer Chinese companies a comprehensive solution for working with Belarus, including an electronic platform for concluding transactions and also information, logistics and financial services. Within the framework of this project, we are ready to engage our partners from the banking sector and Sinotrans, one of the largest transport and logistics companies in China. The main thing is to move from the planning stage to the practical implementation of the agreements as soon as possible," Chairperson of the AEEX Board of Directors Zhang Hongping said during a visit to the BUCE central office.

Ms Zhang also noted that the organization of deliveries of Belarusian products to China via BUCE will not require significant marketing costs, since Chinese consumers are already familiar with the "made in Belarus" brand, and all the key export commodity items presented at BUCE are in demand in the Chinese market.

"Timber, milk powder, rapeseed oil, meat products… China imports all these goods from all over the world, including from Belarus. Moreover, in recent years, Belarusian products have become more visible in China, which, in my opinion, makes the job of attracting Chinese buyers to the commodity exchange much easier. I propose to focus on the regions along the New Silk Road route. First of all, these are Shanghai, Taicang and Xinjiang. We have offices in each of them, so we will be able to establish interaction with Chinese business interested in working through the commodity exchange fast," Ms Zhang said.

As of 1 July, 127 residents of the PRC were accredited at BUCE. One of them has the status of a broker. In H1 2023 the amount of transactions by Chinese participants increased by 29% to $26 million.



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