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11 June 2021, 15:43

Belarusian commodity exchange to step up cooperation with Russia's Pskov Oblast

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Archive photo

MINSK, 11 June (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) is expanding cooperation with Russia's Pskov Oblast, BelTA learned from BUCE's Spokesman Roman Yaniv.

“Trading on BUCE can give an impetus to the trade and economic cooperation between Belarus and Pskov Oblast. Pskov Oblast enterprises plan to use the mechanism of transit transactions to supply their products not only to Belarus but also to third countries. At present, this is one of the most popular instruments used by Russian enterprises,” Head of BUCE's International Relations and Communications Department Aleksandr Bashly said as he attended a business forum in the Chamber of Commerce and Industry (CCI) of Pskov Oblast.

The forum brought together agricultural and woodworking enterprises and major manufacturers of industrial and consumer goods. During the event, the parties agreed to sell via BUCE a wide range of products, including sawn timber, oilseeds and their derivative products, feed additives, electrical equipment, BoPET films and polyester made by companies of Pskov Oblast.

In addition, the leadership of the Pskov Oblast CCI expressed readiness to assist BUCE in establishing business contacts with regional associations of enterprises and business unions to organize roundtables, seminars and presentations to inform Pskov Oblast business circles about BUCE, its opportunities and advantages.

“Unfortunately, due to objective reasons, Belarus-Pskov Oblast trade significantly declined last year. This is why it is important to grasp every opportunity to invigorate trade and bring it at least to the level of 2019. I believe that BUCE will help us achieve this goal,” President of the Pskov Oblast CCI Vladimir Zubov 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.

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