Business news
BUCE to advance economic interests of Ethiopian businesses in Belarus
MINSK, 10 July (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) will help promote the economic interests of Ethiopian businesses in Belarus, the exchange’s press service told BelTA.
“BUCE will provide its electronic infrastructure and assist Ethiopian trading and manufacturing companies interested in selling and purchasing products in Belarus,” said Yaroslav Kovalchuk, Head of BUCE’s Foreign Economic Activity Department, during a meeting with a delegation of Ethiopian business representatives in Minsk.
According to the BUCE representative, using the exchange platform will allow Ethiopian companies to enter the Belarusian market with minimal costs and quickly find trading partners. “Today, more than 30,000 Belarusian enterprises from virtually all sectors of the economy, from agriculture and forestry to energy and petrochemicals, are accredited on the exchange. All of them are potential counterparties for Ethiopian companies, and the exchange platform makes it possible to trade with them directly, under transparent conditions and at market prices,” he emphasized.
During the negotiations with the Ethiopian delegation, the discussion focused mainly on practical aspects of using the exchange mechanism, such as the accreditation procedure at BUCE, participation specifics, transaction control, settlements, and transport-logistics support. Ethiopian business representatives received detailed information and consultations on all these issues.
In addition, a list of promising goods for organizing mutual supplies between Belarus and Ethiopia through BUCE was defined. In particular, Belarus plans to supply dairy products, rapeseed oil, and feed additives to the Ethiopian market, while Ethiopia is expected to supply grain coffee, soybeans, and oilseed crops to Belarus.
It is expected that regional chambers of commerce and industry, whose representatives attended the negotiations, will help involve Ethiopian companies in trading on BUCE. The Oromia Chamber of Commerce and Sectoral Associations expressed readiness to provide informational support and establish systematic cooperation with the Belarusian exchange. Among other initiatives, the possibility of holding joint training webinars on exchange trading for Ethiopian entrepreneurs is being considered.
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. rapeseed meal.
print version
make home page
add to bookmarks
