Photo of BUCE
MINSK, 13 May (BelTA) – Belarus and the Xinjiang Uygur Autonomous Region of China plan to increase trade by expanding the use of exchange mechanisms in mutual trade with a focus on high-value-added products. This was discussed during a meeting with a business delegation from the Chinese city of Karamay, which toured the central office of the Belarusian Universal Commodity Exchange (BUCE) during an official visit to Minsk, BelTA learned from the BUCE press service.
The development of exchange trading in non-raw materials will create additional procurement and export opportunities for Belarusian and Chinese enterprises and facilitate direct contact between producers and consumers in Belarus and Xinjiang.
Due to Karamay’s economy being primarily based on oil extraction and processing, the Chinese side showed particular interest in the regular exchange trading of polymer products, petrochemicals, and lubricants on BUCE. In January-April 2025, the total transaction volume for these products exceeded Br100 million, marking a 36% increase year-on-year. Demand from Belarusian traders continues to grow steadily, and the participation of Karamay suppliers would positively impact competition levels.
“Currently, polymer and petrochemical products traded on the exchange are mainly of Belarusian and Russian origin. Therefore, we are highly interested in diversifying supply regions, and Karamay, as one of China’s oil industry hubs, could play a key role in this,” Deputy Head of Foreign Economic Relations at BUCE German Puzyrny said.
Regarding promising areas of cooperation between Belarus and Karamay in the exchange sector, it was noted that polymer packaging, plastic containers, polyethylene film, technical oils, and additives are all in demand in Belarus. “In turn, we are ready to facilitate the import of agricultural products needed in Karamay by organizing direct supplies from leading Belarusian dairy processing enterprises, meat processing plants, and oil extraction factories,” German Puzyrny added.
Following negotiations with the Chinese delegation, an agreement was reached to accredit a major Karamay-based polymer product manufacturer on the Belarusian Universal Commodity Exchange. This will allow the sale of PET plastic containers and polyester granules on the Belarusian exchange platform.
As of 13 May, BUCE accredited 274 Chinese resident companies, including four brokers. Since the beginning of the year, a total of 27 new Chinese companies have joined the exchange platform.
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