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20 December 2019, 18:27

China's construction companies ready to buy Belarus' timber via commodity exchange

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MINSK, 20 December (BelTA) – Chinese construction companies are ready to buy Belarusian timber products via the commodity exchange, Spokesman of the Belarusian Universal Commodity Exchange (BUCE) Roman Yaniv told BelTA.

Export of Belarusian timber to China via the commodity exchange was in focus of the talks between the BUCE and a business delegation of China on 20 December.

China is one of the world's largest importers of timber products and annually purchases large volumes of forest resources, including from Belarus. At present, China buys Belarusian timber products via intermediaries, which increases prices for customers.

“This is why we would like to purchase Belarusian timber products not from intermediaries from the European Union, but straight from Belarusian manufacturers. If we need to use the commodity exchange for this, we are ready to consider this option. Considering that we buy 50,000m3 of timber products every month, this will help us save a substantial amount of money,” the Chinese delegation noted.

The BUCE is also interested in cooperation with Chinese business, BUCE First Deputy Chairman of the Board Andrei Novikov said. He pointed out that if needed the BUCE will provide help to Chinese partners at all stages of work, from getting accreditation to concluding a contract and overseeing its implementation. “Trade via the BUCE primarily benefits Belarusian exporters that are able to supply products to China at higher prices. At the same time exchange trade is important for Chinese importers because it offers an opportunity to buy resources at lower prices that those offered by intermediaries. The necessary transport and logistics infrastructure has already been set up as part of the Belt and Road initiative, so there will be no issues with delivering products from Belarus to China,” Andrei Novikov believes.

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