MINSK, 2 June (BelTA) – A possibility to expand exchange trade with Belarus was top on the agenda of the talks with an Egyptian business delegation at the headquarters of the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the press service of BUCE.
Top managers of Egyptian companies representing various businesses, from agriculture and light industry to construction and energy sector, came to Belarus to study the theory and practice of exchange trading and to discuss possible areas of cooperation.
According to the head of the Egyptian delegation, Secretary General of the Federation of Egyptian Chambers of Commerce, President of the Union of Euro-Mediterranean Business Organizations, Dr. Alaa Ezz, commodity exchange trade is still in its nascence in Egypt. The information received during the visit to BUCE can help Egyptian business people penetrate the Belarusian market. It can also be used to establish the first commodity exchange in Egypt.
“Belarus' experience in establishing and running a commodity exchange market is, of course, valuable for Egypt, and we will appreciate the opportunity to use your expertise and knowledge in this area. First of all, we are interested in trade in agricultural products, since this type of commodity will be the first to be traded at the pilot session of the first commodity exchange in Egypt. At the same time, we are ready to cooperate in other areas, including the supply of Belarusian sawn timber, building materials and industrial goods. In general, I think that Belarus and Egypt have a significant potential for mutually beneficial cooperation in exchange trade, and by joint efforts we will be able to realize this potential,” Dr. Alaa Ezz said.
Chairman of the Board of the Belarusian Universal Commodity Exchange Aleksandr Osmolovsky reaffirmed the BUCE's interest to strengthen cooperation with the Egyptian business community. He hopes the Federation of Egyptian Chambers of Commerce will encourage Egyptian companies to make use of the Belarusian exchange. “It was not until this year that we embarked on exploring the Egyptian market in earnest, and we have already made some progress here. For example, in March we registered the first deal of a company from Egypt. Back then a trial batch of Belarusian sawn timber was purchased, and, as far as we know, the goods were safely delivered to the consumer. Now we want to bring as many Egyptian enterprises as possible to our commodity exchange, both buyers and suppliers, so that the exchange mechanism works as efficiently as possible. In this regard, we are counting on your help in promoting exchange trading instruments among representatives of the Egyptian business community,” Aleksandr Osmolovsky said.
There are plans to arrange an official visit of senior executives of the Egyptian Commodities Exchange to BUCE. In addition, information about BUCE will be included in the presentation materials distributed during business events held by the Federation of Egyptian Chambers of Commerce.
