MINSK, 16 August (BelTA) - Chairman of the Board of the
Belarusian Universal Commodity Exchange Aleksandr Osmolovsky and
Chairman of the Board of the Egyptian Commodities Exchange (EGYCOMEX)
Ibrahim Ashmawy signed a memorandum of understanding. The docuemtn was
signed during an official visit of a Egyptian delegation led by Egypt’s
Minister of Supply and Internal Trade Ali El-Sayed Ali El-Moselhi to
Belarus, BelTA has learned.
The parties have undertaken to develop cooperation in such areas as electronic exchange trade in strategic types of commodities, to exchange experience in using the exchange mechanism in trade and procurement, to bring new commodities in demand in Belarus and Egypt to the exchange market, to engage business entities of both countries in exchange trade, to organize joint events, promote business ties between Belarusian and Egyptian companies. The parties will explore a possibility of using BUCE software products in the organization of spot exchange trading in agricultural products in Egypt.
Aleksandr Osmolovsky stressed that the visit of the Egyptian delegation was important for Belarus. “Egypt is a strong economy, one of the fastest growing on the African continent. Such meetings and contacts are important for us. We signed a memorandum of cooperation with the Egyptian Commodities Exchange, which has recently been launched in Cairo. We hope that it will help us improve our work in the Egyptian market. We also hope that we will help Egypt with our knowledge and experience. BUCE is an internationally recognized platform. We have clients in 66 countries which want to work and cooperate with us,” he 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.
The parties have undertaken to develop cooperation in such areas as electronic exchange trade in strategic types of commodities, to exchange experience in using the exchange mechanism in trade and procurement, to bring new commodities in demand in Belarus and Egypt to the exchange market, to engage business entities of both countries in exchange trade, to organize joint events, promote business ties between Belarusian and Egyptian companies. The parties will explore a possibility of using BUCE software products in the organization of spot exchange trading in agricultural products in Egypt.
Aleksandr Osmolovsky stressed that the visit of the Egyptian delegation was important for Belarus. “Egypt is a strong economy, one of the fastest growing on the African continent. Such meetings and contacts are important for us. We signed a memorandum of cooperation with the Egyptian Commodities Exchange, which has recently been launched in Cairo. We hope that it will help us improve our work in the Egyptian market. We also hope that we will help Egypt with our knowledge and experience. BUCE is an internationally recognized platform. We have clients in 66 countries which want to work and cooperate with us,” he said.
According to Ali El-Sayed Ali
El-Moselhi, one of the priority tasks is to increase mutual trade with
Belarus. “We are exploring the commodity exchange here, especially in
technological terms. We are looking at possibilities to establish
channels for technology and knowledge transfer, and to expand
interaction between the exchanges of Belarus and Egypt,” he said.
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