MINSK, 17 December (BelTA) – Broader use of exchange trading between Belarus and Omsk Oblast of Russia has been discussed at the Digital Exchange of Contacts online conference, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).
Head of the BUCE foreign trade department Aleksandr Bashliy pointed to the increasing interest in BUCE on the part of companies from the regions of Russia bordering on Belarus. He expressed hope that Omsk Oblast will also take advantage of this cooperation mechanism.
“Since the beginning of the year, 183 new companies from Russia have been accredited on the exchange, and most of them are active participants in trading today. Of course, this was a great boost for exchange trading. For example, in January-November supplies of ferrous metal products for Belarusian industrial enterprises increased by 68%, and the export of milk powder to Russia rose by 53%. The trade in rapeseed oil, flour, building materials was also on the rise. I am sure that our electronic platform will become an effective trading tool for businesses from Omsk Oblast,” he said.
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.
As of 1 December, 2,482 Russian resident companies were accredited at BUCE. The trade is dominated by oilseed meals, ferrous and non-ferrous metal products, coal, meat and dairy products, and products for the construction industry.
