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Belarus to supply timber to Jordan via stock trading

Economy 15.05.2019 | 18:43
An archive photo
An archive photo

MINSK, 15 May (BelTA) – An agreement to launch regular supplies of Belarusian timber to Jordan has been reached during the talks with General Manager of Al Essami Co For Investment and Trade Ltd Yahia Saidi that took place at the headquarters of the Belarusian Universal Commodity Exchange, BelTA learned from the press service of the commodity exchange.

According to the Jordanian businessman, he is ready to do his best to help Belarusian timber exporters get a foothold on the market of Jordan and other countries of the Middle East.

“Due to the deficit of its own forest resources, Jordan has to import a lot of timber, including from Belarus, however in small quantities and through middlemen. As a result, Belarusian manufacturers earn less, while Jordanian consumers pay more. Our company has got an accreditation on the commodity exchange in order to cut off unnecessary go-betweens and to open up a new promising market for Belarusian timber producers. The unique geographical location of Jordan makes it a convenient logistic hub and a great springboard for penetrating the markets of the neighboring states, including Egypt, Israel, Iraq, Saudi Arabia and Syria,” Yahia Saidi is convinced.

The parties also discussed possible issues that might arise at the initial stage of cooperation between Al Essami Co For Investment and Trade Ltd and the Belarusian Universal Commodity Exchange. Several pilot transactions to purchase timber via stock trading will be made in the nearest future.

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