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22 July 2022, 17:23

Belarus' commodity exchange invites Pakistan to use its import substitution platform

An archive photo
An archive photo

MINSK, 22 July (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) has plans to bring sellers and buyers from Belarus and Pakistan to its import substitution platform, BelTA was told in the BUCE press service.

According to BUCE, the use of BUCE tools to facilitate the export of Belarusian products to Pakistan was discussed during a meeting of representatives of the Belarusian Universal Commodity Exchange with a business delegation from the Islamic Republic of Pakistan. In particular, there are plans to consider the export of sawn timber to Pakistan, as this commodity is in high demand by the construction and furniture industries. The export of petrochemical products was also under discussion. By the way, companies from India are already actively buying these commodities on the exchange.

“Pakistan is still a new market for us, but we see great potential in it both in terms of export and import. For this purpose, the first broker company from Pakistan was accredited yesterday. It intends to bring buyers of sawn timber and agricultural products to BUCE, as well as to assist Pakistani producers of rice, non-ferrous metals and textiles in finding business partners in Belarus. We count on the new broker to help us arrange the export of Belarusian synthetic fiber, polyethylene, ammonium sulfate and other chemical and petrochemical products to Pakistan. For example, Indian companies regularly purchase these goods on our trading platform. I think this topic is also very relevant for Pakistan,” Aleksandr Bashliy, Head of the Foreign Relations Office of the Belarusian Universal Commodity Exchange, said.

As part of the visit to BUCE, Pakistani entrepreneurs were able to study the methods, functions and advantages of the import substitution platform. In addition to that, one of the companies (it specializes in the production of sports gear) said it wants to enter the Belarusian market by placing its products in the electronic catalog of import-substituting goods. As for transactions, the participation in the trading process is to be done through a broker at the initial stage.

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