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05 May 2023, 19:15

BUCE to participate in Belarusian-Chinese business forum in Tianjin

MINSK, 5 May (BelTA) – A delegation of the Belarusian Universal Commodity Exchange (BUCE) will take part in the Belarusian-Chinese business forum Tianjin – Gateway to China, which will take place on 15-19 May as part of the Moscow Oblast Week in Tianjin, China, BelTA learned from BUCE Press Secretary Roman Yaniv.

The event has been organized by the Mogilev Oblast Executive Committee with assistance of the Mogilev branch of the Belarusian Chamber of Commerce and Industry and the Embassy of the Republic of Belarus in the People's Republic of China.

During the forum BUCE's capabilities in the sphere of digital exchange trade will be presented and negotiations will be held with representatives of the Chinese private sector, who are interested in selling and buying goods in Belarus via the exchange trade platform.

According to the BUCE press service, virtually all the leading industrial enterprises of Mogilev Oblast are accredited with the Belarusian Universal Commodity Exchange. Some of them already use the exchange for operations in China. In particular, sawn timber made in Mogilev Oblast has been sold to China via the Belarusian Universal Commodity Exchange this year. In other words, certain positive experience is already available. This is why the key purpose of participation in the business forum is to expand trade and economic interaction between Mogilev and Chinese companies by means of exchange trade. In addition to sawn timber the most promising exports to China may include meat and dairy products, vegetable oils, leather goods, and petrochemical products. As far as import is concerned, ferrous and non-ferrous metals, extraction cakes of oil-bearing-crops, equipment, machines, spare parts and components, which are classified as import-substituting, look particularly interesting.

At present 119 residents of the People's Republic of China are accredited with the Belarusian Universal Commodity Exchange. Two of them have the exchange broker status. Woodworking industry products are the main exchange-facilitated export to China in 2023. Regular organization of special trade sessions catering to the Chinese market helps with that. The next special trade session is scheduled for 12 May.

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