Business news

Belarusian commodity exchange registers first deal in sawn timber between non-residents

MINSK, 10 March (BelTA) – The first deal in sawn timber between non-residents was made at the Belarusian Universal Commodity Exchange (BUCE), BUCE spokesman Roman Yaniv told BelTA.

The transaction was made by a trading company from Lithuania and a manufacturer of saw products from Bryansk Oblast of Russia. The goods were sold on FCA shipping terms. According to Roman Yaniv, deals made by two non-resident companies of Belarus attest to a growing confidence in the Belarusian commodity exchange from foreign business and contribute to cross-border exchange trade.

“Using BUCE as a platform for making transactions between non-residents s a promising trend that emerged some time ago. It is growing, spreading to new markets and new groups of goods. For example, we registered first milk powder deals between non-residents at the end of last year. This year we saw transit deals on rapeseed oil and sawn timber. The geography of participants to such deals has also expanded. Now this mechanism is regularly used by residents of Russia, Estonia, Lithuania and Latvia,” Roman Yaniv noted.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trading sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

print version

make home page

add to bookmarks