Photo courtesy of BUCE
MINSK, 3 April (BelTA) - A tripartite agreement on cooperation in exchange trade was signed following the visit of an official delegation from Yaroslavl Oblast of Russia to the Belarusian Universal Commodity Exchange (BUCE). The document was signed by Chairman of the BUCE Board Aleksandr Osmolovsky, Minister of Investment and Industry of Yaroslavl Oblast Alexander Olkhov, and Natalya Bagrova, Director General of the Autonomous Nonprofit Organization “Export Center of Yaroslavl Oblast”, BelTA learned from the BUCE press service.
According to the agreement, the parties intend to create favorable conditions for strengthening trade and economic ties between Belarusian and Yaroslavl economic entities, to increase the efficiency of their trade and procurement activities through the widest possible use of exchange instruments. The parties are also set to promote accreditation of manufacturing and trade enterprises of Yaroslavl Oblast at the BUCE, and to establish a systematic information work with the business community of the region by holding joint conferences, round tables, seminars and other events on electronic exchange trade in Belarus and Russia.
Chairman of the BUCE Board Aleksandr Osmolovsky emphasized such important advantages of the commodity exchange as the elimination of intermediary links and the search for business partners.
“Thanks to the exchange, Yaroslavl companies have gained direct access to the entire market of the Republic of Belarus and can freely purchase the products they need without intermediaries. This is confirmed by high indicators of procurement activities of Yaroslavl participants on our platform. At the same time, we would like the market of Yaroslavl Oblast to similarly open for Belarusian importers, especially since your region produces a lot of goods that are in demand in Belarus. For its part, the BUCE will provide marketing support and help your manufacturers find reliable counterparties, and not only in our country,” Aleksandr Osmolovsky said.
Alexander Olkhov, Minister of Investment and Industry of Yaroslavl Oblast, believes that there are significant reserves for further realization of the cooperation potential in the exchange sector, despite the fact that last year Yaroslavl Oblast was among the top five Russian regions in terms of exchange transactions.
“Therefore, the agreement signed today should become the foundation for fruitful joint work aimed at achieving practical results. First of all, it is necessary to multiply the supplies of products of Yaroslavl enterprises to Belarus through the exchange platform so that their volume would be at least comparable to the volume of Belarusian exports to our region. In this regard, we are ready to provide assistance in organizing information and training events to get Yaroslavl business representatives familiar with the possibilities of exchange trade. They will be thus able to learn firsthand about the advantages of the exchange and how to effectively use this tool,” he said.
According to the BUCE, in 2024 the exchange trade between Belarus and Yaroslavl Oblast amounted to $33.5 million. Belarusian meat and dairy products made up the bulk of transactions. Thus, last year Yaroslavl participants of exchange trading purchased 4,900 tonnes of rennet cheese, 2,100 tonnes of butter and 300 tonnes of blocks of fatty beef meat. As for residents of the Republic of Belarus, they mainly bought veterinary drugs and pumping equipment in Yaroslavl Oblast.
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