Photo courtesy by BUCE
MINSK, 2 December (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) and the Algerian Confederation of Employers (Confédération Algérienne du Patronat, CAP) have signed a cooperation agreement. The agreement outlines comprehensive collaboration on all matters related to the development of exchange-based trade between Belarus and Algeria. The signing ceremony took place during the Belarusian-Algerian business forum held in the capital of Algeria, BelTA learned from the BUCE press service.
The strategic goal of the partnership between BUCE and CAP is to ensure the broadest possible use of the exchange mechanism by Algerian businesses, both for purchasing Belarusian goods and for selling their own products in the Belarusian market.
“Belarusian enterprises are well aware of the capabilities of the exchange platform and actively use it to enhance the efficiency of their sales and procurement activities. With the help of the Confederation of Employers, we aim to achieve a similar level of awareness among Algerian business entities regarding the tools and solutions offered by the exchange. The agreement we signed will form the basis for fruitful joint work aimed at removing barriers hindering the development of Belarusian-Algerian exchange trade. This will contribute to the growth of mutual trade and the strengthening of bilateral trade and economic relations,” BUCE Chairman of the Board Aleksandr Osmolovsky said during discussions on further steps to implement the cooperation agreement with CAP.
In turn, CAP President Tahar Bouzid expressed confidence that joining forces with BUCE would open new prospects for the Confederation’s members in terms of risk minimization and simplified access to the Belarusian market, and would also serve as a catalyst for the development of cross-border e-commerce in Algeria.
“We are ready to assist in promoting exchange instruments and services within the Algerian business community and to hold joint events on exchange trading with the participation of BUCE experts. I believe that to organize stable flows of goods and funds between Belarus and Algeria, we must utilize all available opportunities, and the exchange is undoubtedly one of them,” the CAP president emphasized.
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.
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