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14 February 2024, 14:25

Engineering goods manufacturers from Russia's Kaluga eye Belarusian commodity exchange

MINSK, 14 February (BelTA) – Manufacturers from Russia's Kaluga Oblast can use the industrial and consumer goods section of the Belarusian Universal Commodity Exchange (BUCE) to sell import-substituting products to Belarus and make deliveries to Russian regions by means of transit exchange deals, BelTA has learned from the BUCE press service.

The relevant agreement was reached following a meeting with a Kaluga business delegation organized by the Trade Office of Russia in Belarus and the Export Support Center of Kaluga Oblast. Thus, Kaluga producers of waste water disposal and treatment equipment and auto parts and components expressed their readiness to use the exchange trading platform. According to BUCE, these goods are in stable demand among Belarusian traders. In order to further expand the procurement opportunities of domestic enterprises, BCU is working to attract new sellers, including those from abroad.

“Kaluga Oblast has a well-developed industrial sector, primarily metal processing and machine building. The products of these industries are among the region's major non0energy commodity exports. Exchange trading can provide direct access to thousands of potential buyers in Belarus. Meanwhile, such goods are in stable high demand. For example, in January 2024, equipment and mechanical parts accounted for more than 15% of deals made in the industrial and consumer goods section. The share of ground vehicles and rolling stock parts was equal to 26%. Thus, the exchange can become an alternative tool for export sales for Kaluga manufacturers, while Belarusian companies will get an additional source of purchases as part of import substitution,” the BUCE press service stated. 

As of 1 February 2024, 24 economic entities from Kaluga Oblast were accredited with BUCE. In 2023, the region's enterprises mainly participated in exchange bidding to purchase Belarusian sawn timber.
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