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17 May 2022, 14:58

Over 28,500 companies from 70 countries accredited at Belarus' commodity exchange

An archive photo
An archive photo

MINSK, 17 May (BelTA) – More than 28,500 companies from 70 countries of the world are accredited at the Belarusian Universal Commodity Exchange, Minister of Antimonopoly Regulation and Trade Aleksei Bogdanov said at a general meeting of members of the International Association of Exchanges of the Commonwealth of Independent States Countries (IAEx of CIS), BelTA has learned.

“Over the past year, the share of the Belarusian Universal Commodity Exchange in the domestic wholesale trade increased by a third to make 8%. The turnover of the exchange trade exceeded $4 billion. About 5,000 names of goods are traded at the exchange; over 400,000 deals are signed every year. More than 28,500 companies from 70 countries of the world are accredited at our exchange, which allows quickly finding new customers in promising markets,” Aleksei Bogdanov said.

According to him, over the past year, the exchange helped exporters to make additional profit and helped importers to cut costs by about $250 million. New segments of the commodity exchange market have emerged - trade in petroleum products meant for export, sales of timber products on the domestic market and the supply of cement to the domestic market.

The minister emphasized that the exchange does not act just as an intermediary in the commodity market, but it is also a wholesale link with a number of additional transaction options, which makes it an attractive market instrument both for domestic and foreign trade.

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