MINSK, 23 February (BelTA) – China Merchants CHN-BLR Commerce and Logistics Company (CMCB), which is part of China Merchants Group, is ready to become the logistics operator of the Belarusian Universal Commodity Exchange (BUCE) in Asia and to actively promote the exchange trade between Belarus and China, head of the Business Development Division at CMCB Zhang Long said as he visited the BUCE central office in Minsk, BUCE spokesman Roman Yaniv told BelTA.
BUCE and CMCB are planning to formalize the partnership by signing a memorandum of cooperation. According to the representative of the Chinese company, logistics is not the only promising area for interaction. “We have many large customers who would like to buy timber and other Belarusian products. Almost all major exporters are present at the exchange, as we know. I believe that by pooling together our logistics experience and your capabilities as an international trading platform we will provide a powerful synergetic effect and will contribute to the growth of trade between our countries. In addition to logistics services, we are ready to offer cooperation in the banking and insurance sectors. In our opinion, this will simplify the settlements between Belarusian companies and Chinese counterparties and neutralize certain risks associated with cross-border trade. In other words, logistics is only the first step towards a long-term strategic partnership between our organizations," Zhang Long said.
For his part, First Deputy Chairman of the Board of BUCE Andrei Novikov confirmed the exchange's interest in establishing partnerships with CMCB, stressing the priority importance of the Chinese market for BUCE's export dimension.
"Last year, BUCE exported about 2 million cubic meters of timber. This year, according to our forecasts, this figure will exceed 3 million cubic meters. If your customers are interested in the rhythmic supply of large volumes of Belarusian sawn timber, then the exchange is the best place for them. Milk powder and rapeseed oil are no less promising commodities for export to China. We already have successful experience in selling these goods to the Chinese market with delivery by rail. BUCE monitors the execution of transactions, and through partnership with China Merchants, we will be able to offer participants more flexible logistics solutions. As for imports from China, one of the most popular positions on the exchange is amino acids. I am sure that among your customers there will be those ready to supply these products to Belarus. The demand for it, as a rule, is very high," Andrei Novikov said.
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.
