MINSK, 25 March (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) intends to expand cooperation with Serbian business communities, including through brokerage partnership, Head of foreign economic relations at BUCE Aleksandr Bashliy said during a seminar held in Belgrade on 25 March with support of the Belarusian Embassy in Serbia, the BUCE press service told BelTA.
Attending the seminar were Serbian companies exploring the possibility of using exchange mechanisms to facilitate export-import transactions with Belarusian enterprises.
According to Aleksandr Bashliy, accrediting a brokerage company in Serbia to represent BUCE's interests and facilitate the involvement of Serbian business communities in the Belarusian exchange platform would allow exchange trade between the two countries to reach a brand new level.
"Serbia is a key trading and economic partner for Belarus in the Balkans. This is why we place significant focus on developing cooperation between our countries, including in exchange trading. Last year, the exchange trade between Belarus and Serbia increased by 37 times. In January-February 2025, it grew tenfold. Despite the rapid growth in the exchange trade, we need to enhance the level of Serbian business engagement in trading on BUCE's platform. This matter could be effectively addressed by accrediting an exchange broker in Serbia, who would not only assist Serbian businesses in participating in trades but also handle payments and organize logistics," Aleksandr Bashliy said.
He pointed out that a local broker would significantly simplify access for Serbian companies to the Belarusian exchange market and diversify the trade structure.
"Currently, we have only eight accredited Serbian resident companies, which is insufficient to achieve better results in mutual trade. Through a broker Serbian companies could start trading on the exchange platform more quickly, as they would not need to spend time on paperwork, training and other preparatory activities. A professional market participant would handle these matters," Aleksandr Bashliy emphasized.
As of 25 March 2025, BUCE accredited 54 brokerage companies, including 21 non-residents from 10 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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