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19 May 2023, 16:16

Belarusian commodity exchange presents its import substitution platform in China's Tianjin

MINSK, 19 May (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) presented its import substitution platform in Tianjin, BelTA learned from the BUCE press service.

The possibility of using the BUCE import substitution platform for the sale of products aroused a keen interest among the participants of the Belarusian-Chinese business forum "Tianjin - Gateway to China", which took place during the Mogilev Oblast Week in Tianjin.

Following the B2B negotiations on the sidelines of the forum, a number of large Chinese manufacturers expressed their readiness to supply technological equipment, spare parts and components for the needs of the Belarusian industrial and agricultural sectors. They see the BUCE platform not only as an entry point to the Belarusian market but also as the gateway to the Eurasian Economic Union.

"If Tianjin is the gateway to China, then the exchange is a digital gateway to Belarus and other EAEU countries. We have accredited 3,200 companies from Russia, 103 from Kazakhstan, 19 from Kyrgyzstan and 15 from Armenia. On the one hand, these are potential consumers of Chinese goods, and on the other hand, they are reliable, exchange-tested suppliers of products that are in demand in China. Thus, by participating in exchange trading, a Chinese company has at its disposal a whole range of tools with which it can effectively solve almost any issues of sales and purchases abroad. So far, Chinese partners mainly act on the exchange as importers purchasing Belarusian timber, rapeseed oil, dairy products and petroleum products. Therefore, we would like to see more Chinese manufacturers on the exchange. First of all, this applies to import-substituting goods, which are in high demand both in Belarus and in Russia," German Puzyrny, Deputy Head of Foreign Economic Affairs at BUCE, said during the presentation of the exchange mechanism for the Chinese business community.

The BUCE delegation also took part in the World Intelligence Congress (WIC). During the event, it had an exchange of experience in electronic exchange trading and studied advanced developments in the field of information security and analysis of "big data" with a view to their possible application at BUCE.

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