Photo courtesy of BUCE
MINSK, 24 December (BelTA) - In January-November 2024, Belarusian enterprises increased export sales to Russia through the Belarusian Universal Commodity Exchange (BUCE) by 9.5 times. The total amount of exchange transactions over 11 months amounted to $771.3 million, with 91% of supplies coming from the agro-industrial complex, Deputy Head of Foreign Economic Relations at BUCE German Puzyrny said as he spoke at the seminar “25 Years of the Union State. Results and Prospects of Industrial Dialogue Development” in Mogilev, BelTA learned from the BUCE press service.
“Based on the exchange trade in January-November, we can predict that 2024 will be a record year for exports of Belarusian products to Russia. Today, the top five most popular items purchased by Russian companies are butter, milk powder, cheese, meat, and timber. The share of these goods in the total structure of export transactions amounts to 87%,” the BUCE representative said.
According to German Puzyrny, the predominant position of agricultural and forestry products does not hinder the dynamic development of other export directions. In particular, in 2024, Belarusian exchange traders actively supplied the Russian market with construction materials, as well as industrial and consumer goods, including as part of import substitution projects.
“In the industrial and consumer goods category Belarus’ export to Russia via BUCE increased by 33% in value terms. Almost half of the total supplies were import-substituting products, and the counterparties in such transactions were mainly small and medium-sized businesses,” the deputy head of foreign economic relations at BUCE said.
The seminar was organized by the Trade Representation of Russia in Belarus with the support of the FEZ Mogilev administration.
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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