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04 April 2022, 16:01

BUCE steps up exchange trade with Russia's Penza Oblast

MINSK, 4 April (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) is stepping up exchange trade with Russia's Penza Oblast, BelTA learned from the BUCE press service.

Chairman of the Board of the Belarusian Universal Commodity Exchange Aleksandr Osmolovsky met with Governor of Penza Oblast Oleg Melnichenko at the Trade Mission of Russia in Belarus. “The exchange platform will serve as an additional mechanism for implementing the joint trade potential of Belarus and Penza Oblast of Russia, ensuring direct contact and favorable working conditions for Belarusian and Russian companies,” the BUCE head was cited as saying.

According to the BUCE head, it was the development of interaction with the regions of the Russian Federation that became the main driver of the exchange trade between Belarus and Russia in 2021. “Last year we made a focus on companies from Russian regions - Smolensk, Bryansk, Kaliningrad and others. Some 253 new organizations were accredited to take part in the exchange, while the exchange trade with Russia increased by half, up to $574 million. This year we expect to improve these figures by activating cooperation with the regions already represented at the exchange platform and involving new subjects of the Russian Federation in the exchange trade,” Aleksandr Osmolovsky said.

Penza Oblast is of special interest for the BUCE as a supplier of agricultural goods in demand on the Belarusian market. First of all, these are feed additives, grain, oilseeds and meal. In Q1, the amount of exchange transactions with these products exceeded $34 million. For Penza producers, it is a great opportunity to increase exports and expand the circle of business partners. Belarusian companies can supply milk products and petrochemical products to Penza Oblast, especially since these products are already successfully sold in the neighboring regions.

“There are plenty of points of contact. We just need to start working, and the results will not be long in coming,” Aleksandr Osmolovsky said.

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