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25 February 2021, 18:40

Belarusian commodity exchange holds online event for business community of Russia's Bashkortostan

MINSK, 25 February (BelTA) - The advantages of trading mechanisms of the Belarusian Universal Commodity Exchange (BUCE) to strengthen business ties and promote trade between Belarus and Russia's Bashkortostan were presented at a web-based conference on bilateral trade and economic cooperation, BelTA learned from the BUCE press service.

The event was organized by the Bashkortostan Export Promotion Center.

Speaking to the participants of the conference, Aleksandr Bashliy, head of foreign trade at BUCE, spoke about the BUCE opportunities that Bashkortostan companies can use to facilitate trade relations with Belarusian partners. In particular, BUCE provides access to the majority of the largest consumers of Bashkortostan manufacturers, which will help them to promptly find a buyer and make a deal on attractive terms for both sides.

BUCE can serve as an effective tool for purchasing Belarusian goods in demand in Bashkortostan. For example, Belarus' major exports to Bashkortostan are machinery and equipment, petrochemical and chemical products, textiles and food. Manufacturers of all these commodity positions are widely represented at BUCE and are ready to cooperate with Russian business.

This conference was part of a series of online events aimed at involving companies from Russia regions in exchange trade. This year, BUCE has already conducted similar video conferences with Udmurtia, Smolensk Oblast, Bryansk Oblast, Pskov Oblast, Sverdlovsk Oblast and Volgograd Oblast.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

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