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Belarusian commodity exchange seeks to attract Ukrainian woodworking companies
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MINSK, 21 May (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) is keen to attract Ukrainian woodworking enterprises to its platform, First Deputy Chairman of the BUCE Board Andrei Novikov said as he attended the All-Ukrainian Timber Industry Forum that was held on the sidelines of the 23rd edition of the international exhibition of the forestry and furniture industry Woodprocessing 2021 in Ukraine’s Lvov, BelTA learned from BUCE’s press service.
According to Andrei Novikov, this will help satisfy the increased demand for sawn wood in the Belarusian market and reduce prices for these products for Belarusian consumers. Ukrainian suppliers will be able to use the transit transaction mechanism to supply forest products not only to Belarus, but also to third countries.
“Ukrainian companies will get direct access not only to the largest Belarusian consumers of sawn wood but also to even larger markets of the European Union, China, and Egypt. BUCE already has a big pool of potential buyers that are keen to purchase large batches of sawn timber on a regular basis. Russian woodworking companies already take advantage of this mechanism to sell their products to the Baltic states. Thanks to this, the share of transit transactions in the total trade on BUCE is growing,” Andrei Novikov noted.
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.
The All-Ukrainian Timber Industry Forum is a big event in the woodworking industry that brings together leading manufacturers and consumers of forest products from all over Ukraine. This year’s edition of the forum drew around 100 companies of the woodworking and furniture industries.
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