MINSK, 7 April (BelTA) - Ambassador Extraordinary and Plenipotentiary of Turkmenistan to Belarus Nazarkuly Shakulyev visited the Belarusian Universal Commodity Exchange (BUCE). During talks, the parties agreed to join the efforts of the embassy and the exchange to develop trade between the two countries, BelTA learned from the BUCE press service.
The cooperation is expected to be comprehensive and include such areas as information exchange, joint events, assistance with accrediting Turkmenistan’s business entities on BUCE, exploration of promising commodity positions, trade consultation and visa support. The joint work aims to boost trade, expand the range of goods and increase the number of Turkmenistan’s users of BUCE.
"Last year, the value of transactions involving Turkmenistan’s participants increased 25 times: from $80,000 to nearly $2 million. All of this consisted of Belarusian exports, particularly lumber and dried milk. As you can see, in absolute terms the trade volumes remain small and certainly does not meet the potential of our countries in the exchange. The economies of Belarus and Turkmenistan are complementary: your products are in demand on the Belarusian market, while our goods are popular among Turkmen consumers. I believe it is in our hands to activate the bilateral exchange trade and increase the share of exchange transactions in mutual trade," Chairman of the BUCE Board Aleksandr Osmolovsky said during the talks.
Ambassador Nazarkuly Shakulyev emphasized the need to identify new growth points in trade between the two countries both by introducing additional commodity positions of interest to both parties and by enhancing the appeal of exchange mechanisms to Turkmenistan’s businesses. In this regard, the embassy plans to assist BUCE in informing business circles of Turkmenistan about opportunities to import and export goods via the Belarusian exchange platform and in organizing business events focused on exchange trade for Turkmenistan’s entities.
As of 7 April 2025, BUCE accredited 21 Turkmenistan’s participants. Of these, six joined the exchange in 2024 to purchase wood and dairy products.
The cooperation is expected to be comprehensive and include such areas as information exchange, joint events, assistance with accrediting Turkmenistan’s business entities on BUCE, exploration of promising commodity positions, trade consultation and visa support. The joint work aims to boost trade, expand the range of goods and increase the number of Turkmenistan’s users of BUCE.
"Last year, the value of transactions involving Turkmenistan’s participants increased 25 times: from $80,000 to nearly $2 million. All of this consisted of Belarusian exports, particularly lumber and dried milk. As you can see, in absolute terms the trade volumes remain small and certainly does not meet the potential of our countries in the exchange. The economies of Belarus and Turkmenistan are complementary: your products are in demand on the Belarusian market, while our goods are popular among Turkmen consumers. I believe it is in our hands to activate the bilateral exchange trade and increase the share of exchange transactions in mutual trade," Chairman of the BUCE Board Aleksandr Osmolovsky said during the talks.
Ambassador Nazarkuly Shakulyev emphasized the need to identify new growth points in trade between the two countries both by introducing additional commodity positions of interest to both parties and by enhancing the appeal of exchange mechanisms to Turkmenistan’s businesses. In this regard, the embassy plans to assist BUCE in informing business circles of Turkmenistan about opportunities to import and export goods via the Belarusian exchange platform and in organizing business events focused on exchange trade for Turkmenistan’s entities.
As of 7 April 2025, BUCE accredited 21 Turkmenistan’s participants. Of these, six joined the exchange in 2024 to purchase wood and dairy products.
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