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01 December 2022, 18:01

Belarusian commodity exchange easing accreditation rules for Turkish companies

MINSK, 1 December (BelTA) - Belarusian Universal Commodity Exchange is easing the accreditation rules for Turkish companies, BelTA learned from the press service of Belarusian Universal Commodity Exchange (BUCE).

With a view to making the exchange mechanism more attractive for foreign companies, including potential buyers of fuel pellets and other timber products, Belarusian Universal Commodity Exchange is easing the accreditation rules for residents of Turkey. In order to obtain an electronic digital signature and become a participant in exchange trading, it is enough for a Turkish company to provide BUCE with a minimum package of documents. The accreditation procedure itself is carried out via the internet and usually takes only one working day.

"BUCE is preparing for pilot auctions in pellets for the Turkish market with the assistance of the Embassy of Belarus in that country. To accredit with BUCE a resident of Turkey needs to upload only two electronic documents into his personal account on the BUCE website: a copy of an abstract from the trade register translated into English, Russian or Belarusian and a copy of the passport page of the head of the company with identification data. It takes one working day for BUCE to check documents, issue an electronic signature and sign a contract for exchange services. The fast-track accreditation procedure is already in force for residents of 21 countries, which makes the exchange mechanism more accessible to foreign companies promoting Belarusian exports," the BUCE press service commented.

BUCE will hold the first auction in fuel pellets focused on the Turkish market on 6 December. For the upcoming trading session, Belarusian producers have already submitted more than 18,000 cubic meters of pellets of grades A1 (light pellets) and A2 (gray pellets), including with the end-user delivery option. Currently, work is underway to attract Turkish buyers to the auctions.

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