MINSK, 13 February (BelTA) – Kazakhstan Ambassador to Belarus Askar Beisenbayev and Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Aleksandr Osmolovsky discussed the possibility of using the commodity exchange mechanism to increase the trade between Kazakhstan and Belarus, BUCE spokesman Roman Yaniv told BelTA.
“The exchange platform provides ample opportunities for trade between Kazakhstan and Belarus. Today, the Kazakh market is fully open to Belarusian producers, and almost all Belarus' key export items are represented on the commodity exchange. Moreover, we are interested not only in the purchase of high-quality Belarusian goods but also are ready to promote them to the markets of third countries, for example, to China while Belarus can become a gateway to the EU market for us. This is also a very promising direction,” Ambassador Askar Beisenbayev noted.
The BUCE head stressed that for 15 years of operation the exchange has proved itself an effective tool for trading both in Belarus and beyond. “This is evidenced through the growth in the number and volume of transit transactions, in which both counterparties are foreign companies while the exchange just helps them to buy or sell goods in the safest and most transparent way. Kazakhstani companies can use the BUCE as an additional channel to export to Europe, or buy products that are in demand in Kazakhstan but not produced in Belarus. For example, Kazakhstan annually imports significant volumes of rolled steel. We have more than 2,000 Russian enterprises, including major steel mills, accredited. This is a great opportunity for Kazakhstani companies to buy metal without mediators and at the best possible price thanks to the competition between sellers,” he said.
The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe, the main function of which is to assist Belarusian enterprises with exporting products and foreign companies with entering the Belarusian market. BUCE sells metal, forestry, agricultural products, industrial and consumer goods.
