MINSK, 10 July (BelTA) – Areas of bilateral cooperation such as attracting small and medium-sized enterprises to the Belarusian exchange platform, simplifying cross-border trade in goods in demand in both Belarus and Russia’s Dagestan, brokerage, and transit transactions were identified as priorities following negotiations between the leadership of the Belarusian Universal Commodity Exchange (BUCE) and the Dagestan Chamber of Commerce and Industry held via videoconference, BelTA learned from BUCE’s press service.
“We maintain partnerships with nearly all chambers of commerce and industry across Russia and have signed cooperation agreements with 15 of them to jointly develop exchange trade between Belarus and Russian regions. I am confident that signing a similar agreement with the Dagestan chamber will not only encourage Dagestani business to participate in trading, but also help achieve higher mutual trade,” Deputy Chairwoman of the BUCE Board Irina Narkevich said.
President of the Dagestan Chamber of Commerce and Industry Badrutin Magomedov agreed with this viewpoint. He emphasized the similarity of the tasks undertaken by BUCE and the chamber, as well as the need for joint efforts to achieve a synergistic effect.
“Issues of foreign economic activity, including efforts to promote Dagestan-made products in new markets, are of paramount importance to us. This is why we are very interested in establishing regular exchange trade between Dagestani and Belarusian enterprises. Among our members are producers of wool, fruit concentrates and juices who are ready to supply these goods to Belarus via the exchange platform. In terms of imports, dairy products and meat are of greatest interest to us. So opportunities for mutually beneficial cooperation are quite ample,” Badrutin Magomedov stressed.
One potential form of cooperation between BUCE and the Dagestan chamber is the accreditation of the chamber as a non-resident exchange broker. In this role, it would be able to assist Dagestani business to execute exchange transactions, handle payments, and organize logistics.
As of 10 July, BUCE has accredited seven exchange brokers from Russia.
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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