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12 January 2024, 11:28

Belarus’ commodity exchange, Embassy of Kyrgyzstan agree on cooperation

Photo courtesy of the Belarusian Universal Commodity Exchange
Photo courtesy of the Belarusian Universal Commodity Exchange
MINSK, 12 January (BelTA) – Promising avenues of cooperation between the Belarusian Universal Commodity Exchange (BUCE) and the Embassy of Kyrgyzstan were discussed during the visit of Ambassador Extraordinary and Plenipotentiary of Kyrgyzstan to Belarus Erbol Sultanbayev to the BUCE central office, BelTA learned from the BUCE press service.
According to the agreements reached, the parties will use existing tools and a network of contacts to intensify Belarus-Kyrgyzstan exchange trade by encouraging businesses from Kyrgyzstan to use the BUCE platform.
“Promotion of trade and economic cooperation is one of priorities for the embassy. Therefore, we would like our interaction to be practical in nature and to help ramp up trade between Belarus and Kyrgyzstan. As you know, our republic has a well-developed agricultural sector; agricultural products from Kyrgyzstan are very popular in foreign markets and we sell a lot abroad, mainly to the Russian Federation and Kazakhstan. By using the exchange mechanism, we expect, first of all, to expand the geography of exports of Kyrgyz goods and streamline operations of our manufacturers in Belarus. For our part, we are ready to provide any assistance necessary to establish and expand contacts with the business community of Kyrgyzstan, as well as help arrange business events for Belarusian and Kyrgyz companies,” Erbol Sultanbaev said during the negotiations with the BUCE management. In turn, Chairman of the Board of BUCE Aleksandr Osmolovsky confirmed interest in joining forces with the Embassy of Kyrgyzstan in order to make the most of the potential of exchange trading between the two countries.
“At the end of last year, the amount of transactions carried out by companies from Kyrgyzstan rose almost 1.5 times, mainly due to a significant increase in purchases of Belarusian sugar and lumber. At the same time, Kyrgyz companies made very little use of the export opportunities of our trading platform that opens access to markets of 70 countries in addition to Belarus. I want to draw attention to this point, especially since BUCE is not just an electronic marketplace, but an effective marketing tool that can address a wide range of sales and purchasing tasks,” the BUCE head noted.
It is expected that the first joint project of BUCE and the Embassy of Kyrgyzstan in Belarus will be a visit to BUCE by a Kyrgyz business delegation. During a round-table session businesses from Kyrgyzstan will be told in detail about key aspects of participation in trading and the main advantages of the Belarusian exchange platform. 

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