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26 February 2021, 17:28

Russian exporters tout Belarusian commodity exchange as place to do business

MINSK, 26 February (BelTA) - Russia's Trade Representative of Russia to Belarus Yury Zolotarev and the head of the Smolensk Region Export Support Center Maksim Astapenkov called on the Novosibirsk business community to make a greater use of the Belarusian Universal Commodity Exchange (BUCE) in trade with Belarus during the online conference "Export to the EAEU countries" organized by the Ministries of Economic Development and Industry, BelTA learned from the BUCE press service.

The efficiency of the Belarusian commodity exchange has been confirmed by numerous positive feedback from business representatives who have already adopted this mechanism, the Russia representatives said.

For example, Maksim Astapenkov said that more than 400 companies from Smolensk Oblast are currently working on BUCE. For them, the exchange has become an additional channel to sell and purchase goods not only in Belarus but also in third countries due to the possibility of making transit deals.

For her part, Marina Glagoleva, a member of the Board of Directors of the Innovative Business Group, noted that companies from Novosibirsk Oblast are looking for business partners in Belarus and are interested in BUCE's tools and solutions in the field of cross-border trade.

Aleksei Matsevilo, Deputy Chairman of the Board of BUCE, talked about the economic situation in Belarus through the eyes of business operators and BUCE's opportunities. In his speech, he emphasized the importance of maintaining and developing cooperation during the COVID-19 pandemic and the benefits of exchange-traded transaction control mechanisms.

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.

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