MINSK, 11 June (BelTA) - Exchange trading serves as a catalyst for economic growth, Belarusian Deputy Prime Minister Yuri Shuleiko said at the International Exchange Forum, BelTA has learned.
“In an era of rapid change and digital transformation of the global economy, exchange trading serves as a reliable foundation for the development of international trade and economic cooperation. It not only provides an effective mechanism for pricing and risk management, but also serves as a catalyst for economic growth. In the past few years, the exchange market has become a powerful driver of international trade and economic cooperation. It creates unique opportunities for establishing business relations, allowing companies from different countries to find each other and build long-term partnerships. Therefore, today, exchange trading is not just a tool for buying and selling assets, but a complex ecosystem that unites commodity and financial markets, ensures transparency in pricing, and contributes to the formation of strong trade ties between countries,” said Yuri Shuleiko.
In his words, today's event is primarily a platform for open dialogue, exchange of ideas, and search for joint solutions. Here, leading experts in exchange trading will discuss current trends, share success stories, and identify new promising areas for the development of the exchange market. “I have no doubt that the results of the forum will help strengthen cross-border trade and economic ties and open up new horizons for international cooperation,” the deputy prime minister said.
One of the topics for discussion at the forum is how exchanges help solve state tasks in the country's economy: in trade, development of transparent markets, pricing, formation of fair prices, regulation and control, curbing inflation and unfair price fluctuations. “Since time immemorial, exchanges have played a key role in the development of trade, providing a transparent and effective tool for setting prices for basic raw materials. Today, this important function of the exchange mechanism is still relevant. At the same time, it is important to note that exchange quotations are used not only by exchange traders, but also by economic entities that conclude transactions on the over-the-counter market. In other words, for business, the exchange is primarily a price benchmark that helps make the right tactical and strategic decisions, while for the state, it is an effective means of controlling the stability of the domestic market and monitoring the country's economic condition,” Yuri Shuleiko said.
Belarus focuses utmost attention on issues related to exchange trading. “We currently have two exchanges operating—a commodity one and a currency and stock one. Both were set up with state support and are closely integrated into the country's economy, helping to solve a wide range of tasks. The most important of these is maintaining market stability by saturating it with the necessary range of goods and preserving price stability. You don't have to look far for examples. In particular, in the domestic market, the exchange mechanism has repeatedly proven its effectiveness as a tool for neutralizing the impact of negative factors such as currency fluctuations, rising logistics costs, and disruptions in traditional supply chains. As for the external environment, the exchange is also a reliable assistant, allowing for the diversification of sales markets, the search for new business partners, and the development of a competent marketing policy. Over the 20 years of its operation, the Belarusian Universal Commodity Exchange, set up on the president’s instructions, has become an integral part of the country's economic system. The exchange helps regulate processes in the wholesale commodity market, develop competition, prevent price manipulation, and domestic producers have the opportunity to maximize their export potential,” the deputy prime minister emphasized.
Every year, more than 550,000 transactions are carried out on the exchange across a wide range of commodities: from agricultural products and timber to rolled metal and petrochemicals. The amount of savings and additional revenue generated by Belarusian exchange trading participants has exceeded $2 billion since the exchange was established. “The demand for the exchange mechanism in trading and procurement activities is clearly demonstrated by the growth in the share of exchange sales in Belarus' wholesale trade. In 2024, this figure reached 7.2%. An increasing number of participants are showing interest in using the exchange platform. Today, more than 36,000 participants from 82 countries are accredited on the exchange,” Yuri Shuleiko said.
The government has established a list of strategically important commodity resources, transactions involving which economic entities are required to conduct on the stock exchange. According to the deputy prime minister, this instrument has proven its worth for both the export and domestic markets. In addition, legislation requires the registration of over-the-counter transactions involving these commodities if they were not sold at auction or were sold with certain exemptions. A unique database of completed transactions is formed on the exchange, which allows it to perform one of the main functions defined by the law on commodity exchanges.
Starting this year, along with daily quotes, the exchange began publishing exchange price indices, which make it possible to analyze the market in detail and make informed decisions when buying or selling a particular commodity.
“The publicity and transparency of transactions in a highly competitive environment, as well as the use of various exchange instruments that regulate and stimulate the development of exchange trading, allow the state to control the state of the market and ensure the formation of fair prices. The exchange also contributes to maintaining price stability and eliminating unfair price fluctuations, and prevents the conclusion of off-exchange transactions on deliberately unfavorable terms. This minimizes the risks of corruption. In today's reality, the role of exchanges in solving state tasks cannot be overestimated. At the same time, Belarus is ready to share its experience in using exchange trading mechanisms with representatives of other countries. We have something to offer,” the deputy prime minister stressed.
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