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27 December 2021, 16:19

Belarusian commodity exchange welcomes new broker from Russia

MINSK, 27 December (BelTA) – OOO Wood Resource, which is part of the Wood Resource group of companies, has become the new broker of the Belarusian Universal Commodity Exchange (BUCE) in Russia, BUCE spokesman Roman Yaniv told BelTA.

The group of companies also operates the international trade website woodresource.rf, one of the largest trading platforms of the forest industry in Russia and an accredited partner of the Russian Export Center.

"As a BUCE broker, OOO Wood Resource will attract suppliers of lumber and other popular forestry products manufactured in Russia to the Belarusian stock exchange. Timber is planned to be sold both to consumers in Belarus and to foreign customers of BUCE through the mechanism of transit transactions," Roman Yaniv said.

According to Evgeny Rozhentsev, Director of the Wood Resource group of companies, the strategic goal is to become BUCE's top broker in the timber section, both in terms of the number of clients and the volume of transactions."First of all, we want to become a single entry point to the Belarusian market for Russian forestry enterprises. This is the number one task, and I am sure that we will meet it. We are familiar with exchange trade because we have already gained some positive experience working at St. Petersburg International Mercantile Exchange,” Evgeny Rozhentsev said.

“We also plan to use the Belarusian exchange to promote Russian timber products to Europe, Asia, Africa and other promising regions. We have more than 18,000 companies registered on our trade portal and many of them will certainly be interested to come to BUCE. Companies accredited at the Belarusian exchange are potential business partners for users of our portal. In other words, our cooperation with BUCE is mutually beneficial and will provide a positive economic effect for both Belarusian and Russian business entities,” Evgeny Rozhentsev stressed.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

More than 50 broker organizations, including 13 non-residents from nine countries, are accredited at the BUCE. Stock brokers account for about 40% of the exchange commodity trade.

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