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Belarusian commodity exchange, major Chinese timber importer agree on cooperation

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MINSK, 6 March (BelTA) - SUMEC International Trading, which accounts or about 3% of wood and timber imports to China, has expressed interest in cooperation with the Belarusian Universal Commodity Exchange (BUCE) in terms of supply of timber products to the Chinese market. Negotiations with representatives of the Chinese company took place at the BUCE central office in Minsk, BelTA learned from the BUCE press service.

Currently, the geography of SUMEC International Trading's purchases is quite diversified. It imports timber products from Brazil, Canada, Congo, Russia, Finland and other countries, including Belarus, where the company recently opened a subsidiary. At the same time, the Chinese side is ready to purchase Belarusian timber via BUCE on a regular basis, subject prices are competitive and rhythmic supplies are guaranteed.

During the meeting with the Chinese delegation special attention was paid to special export trade sessions, which are held monthly at BUCE. As practice has shown, the sale of sawn timber with delivery to a point of  destination is the most convenient for Chinese importers and creates favorable conditions for long-term cooperation.

According to BUCE, the next special session, focused on the Chinese market, is scheduled for 9 March. In this regard, Belarusian companies have already placed bids exceeding 100,000 cubic meters of timber.

Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.

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