MINSK, 26 November (BelTA) - Belarus and Türkiye intend to use their status as BRICS partner states to develop cross-border exchange trade in bilateral and multilateral formats. Such agreement was reached by First Deputy Chairwoman of the Board of the Belarusian Universal Commodity Exchange Olga Gorelik and President of the Istanbul Mercantile Exchange (İstanbul Ticaret Borsası, İSTİB) Ali Kopuz, BelTA learned from the BUCE press service.
The meeting took place at the İSTİB headquarters in Istanbul in the run-up to the official opening of the International MUSIAD Trade Fair, in which BUCE is taking part as an exhibitor. During the talks, Ali Kopuz stressed that the high level of diplomatic, trade and economic dialogue between Belarus and Türkiye should be projected on the commodity exchange, where there are ample opportunities for fruitful cooperation in the interests of both sides.
"I am confident that the recent accession of Belarus to the BRICS community as a partner state will contribute to the strengthening of business contacts both with individual countries and within the framework of the association as a whole, which will give a new impetus to intra-exchange cooperation. In light of this, we confirm our interest in working together with BUCE across all relevant items of the bilateral and multilateral agenda," the head of the Turkish exchange said.
Olga Gorelik expressed gratitude to her Turkish counterpart for his willingness to intensify cooperation, noting that in January-October of 2024, Türkiye entered the top ten countries in terms of the amount of transactions on the Belarusian commodity exchange.
"In January-October of this year, the exchange turnover of Turkish companies overcame the $17 million mark, which was up by 2.5 times year-on-year. Several commodities were trade growth drivers at once. Thus, Belarusian timber, sugar, wheat gluten, milk powder, ferrous scrap and flax fiber were supplied to Türkiye, and polyester yarn and threads were imported for the needs of the textile industry of Belarus. I have no doubt that with the support of the Istanbul Mercantile Exchange, we will be able to supplement this list with new promising positions, primarily in the agricultural segment," Olga Gorelik said.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry and agricultural products, industrial and consumer goods.
As of 1 November 2024, 102 residents of Türkiye were accredited to BUCE. Since the beginning of the year, their number has increased by 1.5 times.
The meeting took place at the İSTİB headquarters in Istanbul in the run-up to the official opening of the International MUSIAD Trade Fair, in which BUCE is taking part as an exhibitor. During the talks, Ali Kopuz stressed that the high level of diplomatic, trade and economic dialogue between Belarus and Türkiye should be projected on the commodity exchange, where there are ample opportunities for fruitful cooperation in the interests of both sides.
"I am confident that the recent accession of Belarus to the BRICS community as a partner state will contribute to the strengthening of business contacts both with individual countries and within the framework of the association as a whole, which will give a new impetus to intra-exchange cooperation. In light of this, we confirm our interest in working together with BUCE across all relevant items of the bilateral and multilateral agenda," the head of the Turkish exchange said.
Olga Gorelik expressed gratitude to her Turkish counterpart for his willingness to intensify cooperation, noting that in January-October of 2024, Türkiye entered the top ten countries in terms of the amount of transactions on the Belarusian commodity exchange.
"In January-October of this year, the exchange turnover of Turkish companies overcame the $17 million mark, which was up by 2.5 times year-on-year. Several commodities were trade growth drivers at once. Thus, Belarusian timber, sugar, wheat gluten, milk powder, ferrous scrap and flax fiber were supplied to Türkiye, and polyester yarn and threads were imported for the needs of the textile industry of Belarus. I have no doubt that with the support of the Istanbul Mercantile Exchange, we will be able to supplement this list with new promising positions, primarily in the agricultural segment," Olga Gorelik said.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry and agricultural products, industrial and consumer goods.
As of 1 November 2024, 102 residents of Türkiye were accredited to BUCE. Since the beginning of the year, their number has increased by 1.5 times.
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