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05 December 2022, 18:17

Moscow Oblast ranks first among Russian regions at Belarusian commodity exchange

MINSK, 5 December (BelTA) - According to the analytical report prepared by the Belarusian Universal Commodity Exchange (BUCE), Moscow Oblast was top Russian region in terms of the amount of transactions concluded on Belarusian Universal Commodity Exchange in January-November 2022, BUCE spokesman Roman Yaniv told BelTA.

Moscow companies traded not only with residents of Belarus but also with bidders from other countries represented at BUCE. "This year, companies from Moscow and Moscow Oblast accounted for more than 18% of the total amount of transactions made by Russian residents on our trading platform. This is the highest figure compared to other regions of Russia. In Belarus, Moscow companies mainly bought rapeseed oil, meat and dairy products, timber, wet-blue leather and scrap metals. Ferrous and non-ferrous metals, coal and electrical products were supplied to the Belarusian market from Moscow Oblast. In addition to the import-export contracts, they also concluded transit deals to sell industrial goods, including import-substituting ones. Since the beginning of the year the amount of such transactions amounted to $5.2 million in equivalent," the press service of BUCE reported.

Along with Moscow Oblast, the top five Russian regions in terms of the amount of exchange transactions at BUCE also included the Smolensk Oblast, Kemerovo Oblast, Kaliningrad Oblast and Leningrad Oblast. The growth of interest of Russian business in BUCE was facilitated by close interaction of BUCE with regional chambers of commerce and export promotion centers. They conduct active awareness raising campaigns among business representatives, but also directly attract new participants to auctions.

"A vivid example of fruitful cooperation is the accreditation of the Export Promotion Center of Rostov Oblast as a broker. As a result, large suppliers of coal and oilseed processing products came to the exchange in less than a month, and the volume of transactions with this region increased by 3.7 times in January-November 2022 year-on-year. Therefore, we are set to continue developing exchange trade with the Russian Federation in a similar way - through the chambers of commerce and export promotion centers," Roman Yaniv said. He also stressed that Russia invariably ranks first in terms of the number of companies accredited with the Belarusian commodity exchange. Out of the 6,000 foreign clients of BUCE, more than half are residents of the Russian Federation.

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