MINSK, 9 September (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) has facilitated the completion of the first few deals upon applications, which had been automatically formed using information from a database of electronic passports of commodities (ePASS), the BUCE press service told BelTA.
The Belarusian Universal Commodity Exchange enabled the option to create applications to buy and sell industrial goods and consumer goods using Global Trade Item Number (GTIN) codes in late August as a practical result of the exchange’s cooperation with the state enterprise Center for Identification Systems.
The BUCE press service explained that thanks to the introduction of the ePASS system the time needed to prepare for exchange trading has been reduced substantially because trade participants do not have to manually fill in the description and key parameters of the goods. Entering a GTIN code will suffice while the necessary data will be automatically pulled from the ePASS database. It is necessary to choose only the price for the goods, the amount, terms of payment and delivery as well as the application’s expiry period.
Exchange trade in industrial goods and consumer goods is one of the key business areas for the Belarusian Universal Commodity Exchange. In January-August 2024 the sum of the deals with these commodities amounted to Br734 million, 42% up from January-August 2023. The top sellers were automobiles, utility vehicles, industrial equipment, computer equipment as well parts, components, and consumable products.
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