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09 November 2022, 13:06

Belarusian commodity exchange to cooperate with major electronic trading platform from Russia

MINSK, 9 November (BelTA) – BUCE and TEK-Torg are planning to start cooperating in electronic procurement, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).

BUCE and TEK-Torg, one of the largest federal electronic trading platforms in Russia, have agreed to cooperate in public and commercial procurement. A TEK-Torg delegation visited the BUCE central office to study the role of the exchange platform in import substitution.

Taking into account the specifics of the procurement systems in Belarus and the Russian Federation, the parties attached the main attention to the search for points of contact between the Belarusian and Russian platforms in terms of algorithms for tenders, admission of participants, payments, ensuring the fulfillment of obligations under transactions. The main goal is to provide the most favorable conditions for Belarusian and Russian companies that purchase or sell products in the markets of both countries.

Despite close cooperation between Belarus and Russia in terms of procurement, in spite of the agreement on mutual recognition of electronic digital signatures, the parties have still not exhausted the potential of this cooperation. In this regard, cooperation in the field of commercial procurement and procurement in accordance with Federal Law No. 223-FZ seems particularly promising. Its intensification will contribute to the Belarusian-Russian trade, including through sales of import-substituting products.

According to TEK-Torg, petroleum products and petrochemicals, railway locomotives and rolling stock, measuring and navigation equipment, computer equipment and peripheral items account for about 18% of the Russian procurement market. All these commodities are traded at Belarusian Universal Commodity Exchange and are the subjects of transactions concluded by Belarusian and Russian companies. In order to further develop mutual trade between the two countries, TEK-Torg expressed its readiness to assist Belarusian producers, through its representative office in Belarus, wishing to supply their products to Russia. Similar assistance to Belarusian and Russian bidders is provided by Belarusian Universal Commodity Exchange.

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