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Zimbabwe seeks closer ties with Belarus in exchange trade

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MINSK, 2 July (BelTA) – Zimbabwe is interested in developing mutually beneficial cooperation with Belarus in exchange trade, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).

Exchange trade is of significant interest to Zimbabwe in the context of developing trade and economic cooperation with Belarus, and therefore more focused attention is planned to be given to intensifying interaction in this area. This was stated by Ambassador Extraordinary and Plenipotentiary of Zimbabwe to Belarus Ignatius Graham Mudzimba during his visit to the central office of BUCE in Minsk.

“The distinctive feature of Zimbabwe’s cooperation with Belarus is its mutually beneficial nature, which allows both parties to realize their production, trade, and investment potential. I believe that the exchange vector of our interaction should also be built on this principle. That is, we would like to use the opportunities of the exchange not only for importing Belarusian goods, but also for supplying demanded Zimbabwean products to the Belarusian market. We are talking not only about purely raw materials, but about products with added value. In this regard, I propose jointly working out a list of promising goods for sale through the exchange, guided by the principle of mutual benefit and based on our shared economic interests,” the ambassador said.

Head of the BUCE Foreign Economic Activity Department Yaroslav Kovalchuk supported the diplomat’s proposal and expressed readiness to join efforts with the trade and economic service of the Zimbabwean embassy in Belarus in organizing mutual supplies of goods through the exchange platform. “Speaking of Belarusian exports to Zimbabwe, we can start with powdered milk, which is in high demand in your country and is actively sold abroad through exchange trading. Later, we can work out other dairy products: whey powder, cream, and butter. In terms of imports, considering price levels and logistics costs, it makes sense to establish exchange trade in coffee beans, fruit purée, and juice concentrates. Potential buyers of these products are already accredited on the exchange,” he noted.

Following the meeting, the parties agreed to compile an expanded list of Belarusian and Zimbabwean products that could become the subject of exchange transactions between the two countries, and also confirmed their readiness for closer cooperation on attracting Zimbabwean business circles to BUCE.

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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