MINSK, 16 March (BelTA) – Russia was one of the three major buyers via the Belarusian Universal Commodity Exchange (BUCE) in January-February 2021, BUCE's Spokesman Roman Yaniv told BelTA.
In January-February, Russian companies made transactions worth $12 million, which was almost three times as much over the same period a year prior. Russia placed third in the list of BUCE's major export markets, ousting Germany from the top three. Lithuania and Latvia ranked first and second with $32 million and $18 million in transactions respectively.
According to Roman Yaniv, Belarusian export to Russia surged on the back of the efforts to make BUCE more attractive to Russian companies. “We eased the accreditation procedure, held webinars and online presentations for Russian businesses, and visited to Russia's major industrial, woodworking, and agricultural enterprises, which has yielded positive results. Since the start of 2021, BUCE has registered 30 new Russian companies that actively buy Belarusian meat and dairy products, rapeseed oil, and construction materials and also sell their own goods to third countries on the exchange. Export of many products increased both in monetary and in natural terms,” he stressed.
BUCE cooperates closely with the Trade Representative Office of Russia in Belarus, which also contributes to trade on the exchange. BUCE's representatives have recently taken part in ten online conferences organized by the Trade Representative Office, advertising BUCE's advantages to hundreds of companies from Bryansk Oblast, Kaliningrad Oblast, Perm Oblast, Pskov Oblast, Smolensk Oblast, and Chelyabinsk Oblast of Russia.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
