MINSK, 30 May (BelTA) - Key areas of cooperation with regard to mutual interests and topical issues were outlined at the meeting between Belarusian First Deputy Minister of Foreign Affairs Sergei Lukashevich and Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Aleksandr Osmolovsky, BelTA learned from the BUCE press service.
In order to raise awareness of the heads of Belarusian embassies and consular offices abroad about the opportunities and advantages of the exchange mechanism, plans are in place to resume the practice of holding annual information and training seminars on exchange trading at the BUCE central office. This will help diplomats not only to get familiar with the BUCE activities, the rules of participating in exchange trading and the most important trends in the sector, but also to learn how to use exchange instruments in the performance of their official duties.
According to Chairman of the Board of BUCE Aleksandr Osmolovsky, over 19 years the exchange has accumulated tremendous experience in cross-border electronic trading and is ready to share its experience and tools with heads of diplomatic missions. “BUCE’s functions are not limited to organizing and conducting trades. We have long passed this stage and today we offer Belarusian enterprises an integrated digital solution that includes the whole complex of trading, marketing and analytical tools. I am confident that the resources, capabilities and expertise available to us will be useful to the employees of the Belarusian foreign offices in their daily work to promote the economic interests of our country abroad,” the BUCE head said.
BUCE and the Belarusian Ministry of Foreign Affairs agreed to join efforts to further expand the geography of exchange trading with a focus on the faraway countries, where BUCE does not yet have accredited participants or the volume of transactions does not match the existing potential of trade and economic relations. As part of this area of joint work the Belarusian Ministry of Foreign Affairs will provide BUCE with information support, if necessary, as well as assist in organizing business events and establishing contacts with representatives of foreign business circles.
According to Belarusian First Deputy Minister of Foreign Affairs Sergei Lukashevich, BUCE can always count on the assistance of the Ministry of Foreign Affairs in matters of international trade, as the efficiency of the exchange platform depends on the export performance of the country, which is also the responsibility of the ministry.
“The exchange is undoubtedly a significant economic mechanism directly influencing the processes of pricing and distribution of strategic commodity resources. The exchange also makes a significant contribution to the realization of the country's export potential. This is especially important for us as a foreign trade agency, so we are open to any proposals to develop and strengthen our cooperation,” the first deputy minister of foreign affairs said.
The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.
Photos by BUCE
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