Business news

18 Oct 2022

Belarus’ commodity exchange to take part in MUSIAD EXPO in Istanbul

An archive photo

MINSK, 18 October (BelTA) – The stand of the Belarusian Universal Commodity Exchange (BUCE) will be part of Belarus’ national exposition at the MUSIAD EXPO 2022 Fair that will be held in Istanbul on 2-5 November, BelTA learned from the BUCE press service.

Visitors to the stand will be able to get detailed information about the core activities of the exchange, the most traded commodities, accreditation procedure and rules of participation in trading for non-resident companies, as well as the benefits of using the exchange mechanism for doing business in Belarus and third countries. “The main goal of BUCE’s participation in the exhibition is to bring companies from Asia and the Middle East, which are our priority markets, and expand the geography of exchange trading,” the press service noted.

MUSIAD EXPO is a major regional fair that brings together leading companies specializing in metallurgy, engineering, petrochemical industry, light industry and agriculture. Most of the participants are direct producers or consumers of goods, which is important for BUCE, as one of its functions is to reduce the number of intermediary links in supply chains.

“In addition, we are interested in Türkiye as we view it as a promising market for Belarusian goods. Currently, 27 companies from this country are accredited at the exchange. This year they bought Belarusian sawn timber, as well as nonferrous scrap metal at BUCE. Compared to January-September last year, the amount of transactions made by Turkish participants increased by almost 1.5 times. Therefore, at the upcoming expo we will focus on attracting Turkish businesses, as well as companies from the MENA (Middle East and North Africa) region. We will discuss not only traditional export-import operations with the participation of Belarusian enterprises, but also transit transactions between non-resident companies,” BUCE said.

MUSIAD EXPO is held every two years by the Turkish Independent Industrialists and Businessmen's Association MUSIAD with the support of the Turkish government. BUCE will participate in this event for the first time.