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07 October 2022, 12:55

Belarus, Russia's Bryansk Oblast define promising areas in exchange trade

MINSK, 7 October (BelTA) - Belarus and Bryansk Oblast of Russia have identified promising areas in electronic exchange trade, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).

Import substitution, and also supplies of agricultural products and construction materials have been identified as the most promising areas for cooperation between Belarus and Bryansk Oblast in electronic exchange trade. This issue was discussed at a regular meeting of the working group for cooperation between Belarus and Bryansk Oblast on 6 October.

According to Aleksandr Bashliy, Head of Foreign Relations of the Belarusian Universal Commodity Exchange, Bryansk companies have become much more active in trading on the exchange platform this year, but the volume of transactions still does not correspond to the level of trade and economic cooperation between Belarus and this Russian region achieved to date.

“A positive thing is that the commodity turnover between Belarus and Bryansk Oblast is balanced, while both import and export transactions are concluded. In particular, Belarusian companies buy grain and oilseeds from their Bryansk partners, whereas Bryansk Oblast imports timber, cement and cellular concrete blocks. Volumes are still modest, but both parties are interested in using the exchange platform. We expect that in the future the amounts of transactions for these commodity positions will be increasing,” Aleksandr Bashliy said.

The BUCE representative also suggested that Russia should be more actively involved in trading on the BUCE import substitution platform, which not only facilitates access to the Belarusian market but also makes it possible to conclude transit deals with companies from third countries.

“Unfortunately, it is impossible to meet the need for import-substituting goods with goods of domestic producers. That is why we are constantly working to attract suppliers from friendly countries to our platform. I am confident that such service will also be in demand among the enterprises of Bryansk Oblast,” the head of foreign relations of the Belarusian Universal Commodity Exchange said.

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