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27 March 2024, 12:58

BUCE to assist Asian companies with buying Belarus’ agricultural products

An archive photo
An archive photo
MINSK, 27 March (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) plans to become an electronic trading hub and a center of up-to-date information for buyers of agricultural products from Asian countries, and is also ready to provide consulting support to Asian companies interested in doing business in Belarus, BelTA learned from BUCE.

This matter was discussed in Shanghai during a business forum on trade and economic cooperation in the agricultural sector in Central and Southeast Asia, which was held in Xi'an. The event was organized by the Shanxi branch of China Council for the Promotion of International Trade. Taking part in the event were importers and distributors of agricultural products from China, Malaysia, Indonesia, Vietnam, Kyrgyzstan, Kazakhstan and Uzbekistan - more than a hundred organizations.

“Today all agricultural producers in the Republic of Belarus use the commodity exchange. These are dairy companies, oil extraction plants, and sugar industry enterprises. Their products are in high demand in Asia and are already supplied to some Asian countries through BUCE. For example, since 2022 Chinese companies have been using the commodity exchange to purchase rapeseed oil, milk powder, wet-blue leather, while companies from Kazakhstan, Kyrgyzstan and Uzbekistan buy meat products, sugar and milk powder.

It is noteworthy to make a special mention of Mongolia. Thanks to the efforts of our Mongolian broker, literally within a few months of 2024, this country entered the top three buyers of Belarusian granulated sugar. In other words, our cooperation with Asian countries is gaining momentum, and we are open for cooperation proposals,” BUCE emphasized.

Within the framework of the forum, negotiations were held with Asian food industry enterprises interested in purchasing Belarusian dairy products through BUCE. As a result, an agreement was reached on the sale of whey powder to China. In addition to that, the Malaysian Chamber of Commerce and Industry in China expressed its readiness to assist with bringing Malaysian producers of palm oil to BUCE, as palm oil is in demand among confectionery enterprises of the Republic of Belarus.

BUCE opened an office in Shanghai in 2023 with a view to expanding its presence in China, promoting Belarusian goods on the Chinese market and facilitating the supply of import-substituting products that are in demand in Belarus. To date, 167 Chinese companies are accredited at BUCE, including three stock brokers. 
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