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27 December 2022, 17:35

Belarusian commodity exchange to tap into cooperation with export promotion centers of Russia

MINSK, 27 December (BelTA) - Belarusian Universal Commodity Exchange (BUCE) is intensifying cooperation with export promotion centers of the Central Federal District of Russia, BelTA learned from the BUCE press service.

Cooperation opportunities were considered at an online conference organized by the Trade Representation of the Russian Federation in the Republic of Belarus. Plans are in place to use a network of business contacts of export promotion centers in order to attract small and medium-sized businesses from the regions that are part of the Central Federal District to exchange trading. This will not only increase the supply of Russian goods to Belarus through the BUCE platform, but also provide an additional sales channel for Belarusian exporters. Qccording to Aleksandr Bashliy, Head of Foreign Relations at BUCE, despite the fact that companies from the Central Federal District are leading in terms of exchange transactions this year, the potential for growth in trade in a number of areas has not yet been exhausted and requires synchronizing the efforts of all parties concerned.

"Companies from the Central Federal District accounted for more than half of the exchange transactions made this year by residents of Russia. First of all, they include Moscow Oblast and Smolensk Oblast, where the largest number of bidders are accredited, and also Belgorod Oblast, the trade with which increased five times over 2021. Belarusian enterprises purchased from these regions ferrous and non-ferrous metallurgy products, coal, coke, grain and sunflower oilseeds, and exported mainly meat and dairy products, wet-blue leather and building materials. This is a serious foundation for the further development of mutual exchange trade, and we will continue to work in all these areas. At the same time, isolated transactions were made across many other commodity items. In my opinion, it is these goods that should become the main drivers of growth in 2023, and the key role here can be played by regional export promotion centers that unite thousands of export-oriented small and medium-sized businesses. The exchange, in turn, is ready to become a convenient access point for them to the Belarusian market, and to assist with the sale of products to third countries," Aleksandr Bashliy noted.

In 2022, enterprises of 36 regions of Russia traded at BUCE. The top ten in terms of transactions included the city of Moscow and Moscow Oblast, Smolensk Oblast, Kemerovo Oblast, Kaliningrad Oblast, St. Petersburg and Leningrad Oblast, Belgorod Oblast, Kurgan Oblast, Bryansk Oblast, Altai Territory and Voronezh Oblast. As of 1 December 2022, more than 3,600 residents of the Russian Federation were accredited at BUCE, 368 of whom came to the exchange this year.

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