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04 March 2021, 12:38

Belarusian commodity exchange registers 5,000th foreign company

Photo courtesy of BUCE
Photo courtesy of BUCE

MINSK, 4 March (BelTA) – The Chinese company Wenzhou Ruijun Steel Co. Ltd became the 5,000th foreign company accredited at the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from BUCE's press service.

Wenzhou Ruijun Steel intends to use BUCE to supply to Belarus rolled metal products and other products from ferrous metals that enjoy demand from industrial enterprises.

According to the director general of Wenzhou Ruijun Steel, the company got accredited at BUCE to expand its geographic reach and to start working with Belarus' largest consumers of metal.

“Time is the most precious resource in any business, especially in international trade, where the scale of your presence in a market often depends on how fast you secure a foothold there. This is why we chose BUCE from among other options to enter the Belarusian market as it gives us quick access to our target audience – enterprises of the manufacturing and energy industries. At first we intend to use BUCE to sell tubular goods and later, depending on sales dynamics and market trends, we will expand the range of products. Work at the commodity exchange will be a new and interesting experience for us,” the Chinese businessman said.

Wenzhou Ruijun Steel became the 36th Chinese company accredited at BUCE. In January-February 2021, China outperformed almost all Belarus' major trading partners in terms of the number of exchange transactions.

BUCE seeks to welcome more Chinese companies in 2021, the press service noted. The range of products that are sold to the Chinese market on the BUCE has been expanded. For example, along with timber products, now Belarusian exporters can also sell rapeseed oil, milk powder, and sugar to the Chinese market on the commodity exchange.

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