MINSK, 7 March (BelTA) – There are plans to use the potential of the Belarusian Universal Commodity Exchange (BUCE) to intensify trade and economic cooperation between Belarus and Myanmar, BelTA learned from the BUCE press service.
The use of the exchange mechanism is believed to simplify the operation of Myanmar companies in the Belarusian market, and ensure transparency of pricing, control over fulfillment of obligations and additional instruments of risk insurance when concluding export-import transactions. The matter was discussed during the Belarus-Myanmar business forum held in Minsk as part of the official visit of Min Aung Hlaing, Chairman of the State Administrative Council and Prime Minister of the Republic of the Union of Myanmar.
Speaking about the most promising areas of application of the exchange platform, Assistant Chairman of the BUCE Board Yaroslav Kovalchuk emphasized the agro-industrial complex segment, which is of particular interest to Myanmar business in terms of purchasing Belarusian agricultural products.
“In 2024, the export of agricultural products through the commodity exchange increased more than six times, reaching $959 million. The upward trend continues this year. In January-February, the number of transactions in agricultural commodities amounted to $192 million, which is twice as much as in the same period last year. The leading commodity items that will certainly be in demand in Myanmar include milk powder and feed additives. In this regard, we are ready to assist any Myanmar company interested in purchasing these products at exchange trading. All leading Belarusian milk processing companies as well as the country’s largest producer of amino acids - Belarusian National Biotechnological Corporation are accredited with us. Therefore, the exchange will be a convenient entry point to the Belarusian market for Myanmar importers,” the BUCE representative said.
A total of 35,858 business entities are accredited with BUCE, including 8,161 non-residents of Belarus from 79 countries.
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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