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30 January 2024, 16:51

Belarusian commodity exchange, Kyrgyzstan National Agency agree on cooperation

MINSK, 30 January (BelTA) –The Belarusian Universal Commodity Exchange (BUCE) and the National Investment Agency under the President of the Kyrgyz Republic agreed on cooperation in exchange trade, BelTA learned from the BUCE press service. 

"We plan on organizing joint events on exchange trade for representatives of the Kyrgyz business community, provide information support to Kyrgyz enterprises interested in working on the BUCE platform, and regularly exchange relevant analytics on the markets of Belarus and Kyrgyzstan. The parties also discussed priority commodities for mutual exchange trade. The BUCE will attract food raw material and cotton yarn suppliers from Kyrgyzstan to boost the number of exchange transactions concluded by Kyrgyz residents. These products are in demand among Belarusian traders, the increase in the sales volume will have a positive impact on the Belarus-Kyrgyz exchange trade," the BUCE noted.

As for imports from Belarus, focus will be attached to sugar and timber industries. They accounted for nearly the entire volume of Belarusian exports to Kyrgyzstan via BUCE in 2023. 

The National Investment Agency also expressed its readiness to help accredit the first broker from Kyrgyzstan with the BUCE. Such partnership would expand the pool of Kyrgyz clients participating in exchange, the number of which rose to 25 by the beginning of 2024. 

The national agency provides assistance with promoting Kyrgyz goods abroad and helping local producers to enter new markets. Over 300 agricultural and textile enterprises currently use the agency's services.
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