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Economy
18 March 2020, 12:47

Belarusian commodity exchange, Latvian chamber of commerce to cooperate

Aleksandr Osmolovsky and Janis Endzins. Photo courtesy of the BUCE
Aleksandr Osmolovsky and Janis Endzins. Photo courtesy of the BUCE

MINSK, 18 March (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) and the Latvian Chamber of Commerce and Industry (LCCI) intend to cooperate in exchange trade, BelTA has learned from the BUCE.

A partnership agreement to develop cross-border exchange trade was reached during a visit of a BUCE delegation to Riga on 16 March. The parties plan to share marketing information and facilitate the entry of Belarusian and Latvian economic entities into the commodity exchange market. Plans are in place to organize joint activities to raise the Belarusian and Latvian business communities awareness of the opportunities of the electronic exchange platforms

“Latvia ranked third in terms of the number of accredited companies with the BUCE and in terms of deals. It shows a high interest of Latvian business in the Belarusian market. At the same time, it is obvious that the potential of the exchange mechanism is not fully used today. Deterrent factors are both a limited product range purchased by Latvian bidders and the lack of information about the advantages of trade through the exchange. I hope that with your support we will make progress in solving these problems,” BUCE Chairman of the Board Aleksandr Osmolovsky said as he met with LCCI Chairman of the Board Janis Endzins.

Janis Endzins expressed his readiness to join forces and support the BUCE in attracting Latvian companies to the biddings, first of all, members of the chamber. “It is important for us that the business of our chamber members develops and the trade between Latvia and Belarus grows dynamically,” Janis Endzins said. “If the exchange offers attractive terms, we are ready to become your information partner and recommend the exchange platform as the most effective tool for purchasing and selling products on the Belarusian market,” he added.

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