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03 June 2024, 16:14

Belarusian commodity exchange to expand cooperation with Mongolia

Photo courtesy of BUCE
Photo courtesy of BUCE
MINSK, 3 June (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) intends to step up cooperation with Mongolian companies interested in using its platform to import and export goods, First Deputy Chair of the Board of BUCE Olga Gorelik said speaking at the Belarus-Mongolia business forum that was held on the sidelines of the official visit of the president of Belarus to Ulaanbaatar, BelTA learned from the BUCE press service.

Olga Gorelik emphasized that Mongolian businesses can count on all possible assistance from BUCE throughout all stages of trading and in the post-trading period. BUCE will help make sure that all obligations under transactions are fulfilled.

“BUCE will act like a “one-stop shop” for Mongolian enterprises and provide all the necessary conditions for running a successful business in Belarus. This includes direct access to Belarusian producers and consumers, information assistance, marketing and promotion, and support with transactions. Thus, BUCE offers Mongolian exporters and importers access to the Belarusian market on a turnkey basis, with minimal risks and costs,” Olga Gorelik emphasized.

During B2B negotiations held as part of the business forum, the BUCE delegation and the Mongolian business community discussed a number of promising avenues of cooperation that could have a positive impact on Belarus-Mongolia exchange trade. In particular, there are plans to explore the possibility to supply Belarusian lumber to Mongolia, as this commodity is in high demand by the country’s construction sector, as well as to increase shipments of sugar and milk powder for Mongolian food industry enterprises.

According to BUCE, six companies from Mongolia are accredited at BUCE; one of them has the status of an exchange broker. In January-May 2024, the amount of exchange transactions of Mongolian companies reached $2.5 million. Over 90% of this amount was the supply of Belarusian sugar.
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