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12 February 2024, 15:05

Kyrgyzstan looks to adopt Belarus’ exchange trade practices

MINSK, 12 February (BelTA) – The Antimonopoly Regulation Service under the Ministry of Economy and Commerce of Kyrgyzstan shows interest in Belarus’ experience in developing the exchange commodity market. The delegation from Kyrgyzstan paid a visit to the central office of the Belarusian Universal Commodity Exchange (BUCE) as part of an official visit to Belarus, BUCE spokesman Roman Yaniv told BelTA.

It is highly likely that some methodological approaches, tools and technical solutions introduced at the BUCE will be applied in Kyrgyzstan which is busy with opening a commodity section at the Kyrgyz Stock Exchange.

According to the head of the delegation of the Antimonopoly Regulation Service under the Ministry of Economy and Commerce of Kyrgyzstan Gulshat Asylbaeva, of the biggest practical value for Kyrgyzstan are the BUCE’s innovations in the use of the exchange mechanism for the formation and regulation of prices for strategically important goods, as well as the tools implemented on the Belarusian exchange platform to reduce risks and control the execution of transactions. 

“I am sure that some methods and technologies for building and operating the exchange commodity market, which we have learned in Belarus, can be adapted and applied in Kyrgyzstan. Particularly interesting is the role of the exchange in pricing, development of competition and providing favorable conditions for trade and procurement activities of enterprises of the real sector of the economy. All these issues are also of priority importance for Kyrgyzstan,” Gulshat Asylbaeva said.

In this regard, Aleksandr Osmolovsky, Chairman of the Board of the BUCE, confirmed the readiness to share experience with colleagues, adding that there is a preliminary agreement with the Kyrgyz Stock Exchange.

“We work quite closely with Kyrgyz partners within the framework of the International Association of Exchanges of CIS Countries. With the opening of a commodity market section at the Kyrgyz Stock Exchange we are ready to deepen our bilateral cooperation. Over the past 18 years we have accumulated considerable experience in organizing exchange trading, and our digital infrastructure and transaction support system allows thousands of domestic enterprises to effectively solve their procurement and sales tasks both in Belarus and abroad. We really have a lot to share,” the BUCE head said.
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