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Belarus, Russia’s Samara Oblast seek closer cooperation via commodity exchange

BUCE photo

 MINSK, 22 July (BelTA) – The leadership of the Belarusian Universal Commodity Exchange (BUCE) held a meeting with representatives from industrial enterprises of Russia’s Samara Oblast to discuss the use of exchange sales channels in foreign trade, the digitalization of procurement processes, and the role of the exchange in strengthening business ties between economic entities in Belarus and the Russian Federation, BUCE’s press service told BelTA.

The parties reviewed the performance of Samara-based companies on the commodity exchange, noted the growing interest of regional businesses in exchange instruments, and identified the most promising product categories for implementation via BUCE’s electronic trading system.

“For many Russian companies, including manufacturers from Samara Oblast, accreditation on the exchange platform effectively replaces the entire process of entering the Belarusian market,” Chairman of the Board of BUCE Aleksandr Osmolovsky emphasized. “For a range of products, including metal goods, coal, and oilseed meal, demand is largely concentrated on the exchange. As a result, Russian participants gain a ready-made sales channel that allows them to trade directly with Belarusian consumers, bypassing intermediaries and minimizing risks.”

This view was echoed by Alexey Popov, Head of the Department for Foreign Economic Relations and Interregional Cooperation at the Ministry of Economic Development and Investment of Samara Oblast. He noted that over 60 Samara-based companies are already accredited with BUCE, actively participating in exchange trading and concluding deals. However, in order to further trade, the use of exchange mechanisms needs to be expanded. “The exchange has proven to be a valuable tool for optimizing supply chains, reducing marketing costs, and diversifying sales markets. That’s why we always include a visit to BUCE in the program when organizing business trips to Belarus,” Alexey Popov said.

Following the meeting, one of Samara’s leading bearing manufacturers and a major confectionery factory that produces a wide range of wafers and marshmallows expressed their intention to seek accreditation and participate in exchange trading. This cooperation is expected to boost mutual trade between Belarus and Samara Oblast and help to prevent counterfeit goods from entering the Belarusian market.

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