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12 Feb 2021

Belarusian commodity exchange, Russian trade mission to team up to promote trade

Belarusian commodity exchange, Russian trade mission to team up to promote trade
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MINSK, 12 February (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) and the Russian Federation's trade mission in Belarus intend to team up to promote trade between Belarus and Russian regions. The parties reached such agreement following a visit of the head of the representative office Yuri Zolotarev to the BUCE central office, BelTA learned from the BUCE press service.

BUCE plans to engage business contacts of the Russian trade mission to raise awareness of Russian business about BUCE’s possibilities as an effective platform for trade and procurement. The parties will also join forces to conduct activities aimed at intensifying cooperation between Belarusian and Russian economic entities.

“The trade mission conducts various web-based events with representatives of the Russian business community. Key co-organizers of such online meetings are regional export promotion centers. We propose to include the BUCE presentation into the programs of these events. I am sure that it will be useful for Russian businessmen to learn about such a promising tool for working with Belarusian partners," said Yuri Zolotarev. The trade mission is ready to add a separate information section on exchange trade to the Guide for Business in the Republic of Belarus, which is used by many Russian companies interested in doing business in Belarus.

Chairman of the Board of the Belarusian Chamber of Commerce and Industry Aleksandr Osmolovsky expressed a high interest in cooperation with the Russian trade mission in all above-mentioned areas, emphasizing a significant potential for further expansion of the Belarusian-Russian exchange trade. “We want the exchange to become the primary entry point to the Belarusian market for the Russian business. Registration on our platform automatically gives access to 25,000 companies from 64 countries, The platform is actively used by foreign bidders. A recent example is a company from Kaliningrad Oblast which  already sold rapeseed oil worth over €1 million through our trading platform. The buyer was a Lithuanian company. Such transit deals are a usual thing today," he stressed.

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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