Business news

30 Oct 2025

Russia’s Smolensk Oblast shows interest in developing exchange trade with Belarus

Photo courtesy of BUCE

MINSK, 30 October (BelTA) - The government of Russia's Smolensk Oblast is interested in developing exchange trade with Belarus, Governor of Russia’s Smolensk Oblast Vasily Anokhin said during his visit to the central office of the exchange platform in Minsk, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).

According to the head of the region, participation in exchange trading opens up significant opportunities for Smolensk enterprises in terms of exports and procurement, making it necessary to intensify this direction of cooperation with Belarus. “First and foremost, the exchange allows for the conclusion of import and export deals with a wide range of Belarusian enterprises, thereby contributing to the growth of our region's trade with Belarus. A second important point is the presence of residents from China and Middle Eastern countries on the exchange, who can also become business partners for Smolensk companies. Furthermore, the exchange provides a secure payment mechanism, counterparty verification, transaction execution control, and a number of other truly useful tools for conducting foreign trade activities. In this regard, I consider it necessary to increase the awareness of the Smolensk business community about the opportunities offered by the Belarusian platform and thus pave their way to the exchange. The regional government will provide maximum assistance in this matter, which I will take under my personal control,” the governor said.

During Vasily Anokhin's visit to the BUCE, a cooperation agreement was signed between the exchange and the Smolensk Region Export Support Center. The parties plan to establish joint systematic work with the region's business community to more effectively inform exporters and importers about the BUCE's tools and the practical aspects of their application.

“To date, 628 business entities from Smolensk Oblast are accredited on the exchange. Excluding Moscow and Moscow Oblast, this is the highest figure among all Russian regions represented on our platform. Moreover, the number of Smolensk trading participants is steadily growing - 57 new companies have joined us in just the first 10 months of this year. I am confident that consolidating efforts with the Export Support Center will contribute to engaging more of the region's entrepreneurs in exchange trade and create favorable conditions for increasing transaction volumes,” Chairman of the BUCE Board Aleksandr Osmolovsky.

According to BUCE data, Smolensk Oblast ranks second, after Moscow and Moscow Oblast, in terms of trade on the Belarusian exchange platform. In the first 10 months of 2025, the transaction volume of Smolensk companies reached $161 million, which is twice as high as in the same period of 2024. Agricultural products were the main driver of this growth, accounting for 85% of the total trade between Belarus and Smolensk Oblast.