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13 October 2022, 17:25

Russia's Perm Territory shows interest in Belarusian commodity exchange

MINSK, 13 October (BelTA) - Exporters from Russia's Perm are interested in selling their products on Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

The possibility of using the import substitution platform of the Belarusian Universal Commodity Exchange to sell products to the market of Belarus and third countries aroused interest among exporting companies of Perm Territory of the Russian Federation that participated in the interregional export forum. The event was held in Perm on 12-13 October and was organized by the Government of the Perm Territory and the Investment Development Agency with the support of the Russian Export Center.

According to Aleksandr Bashliy, Head of the Foreign Relations at BUCE, a number of enterprises of the steel and petrochemical industries from Perm Territory are already operating on the Belarusian trading platform, but the limited range of products put up for auction and a small number of participants hinder further development of exchange trade between Belarus and Perm Territory of Russia.

"Despite the fact that enterprises of Perm Territory take part in exchange trades, the range of goods sold by them is not yet wide enough. The structure of transactions in 2022 was dominated by cable and wire products and petrochemical products, despite the fact that mechanical engineering, woodworking and agriculture are well developed in Perm Territory. I am sure that these industries could successfully sell their products not only to Belarus as part of import substitution effort but also to other countries represented on the stock exchange. In January-September of this year, Russian participants made transit transactions for more than $8 million. Taking into account the geography of exchange trade that currently covers 70 countries, the potential for cooperation in this area is huge,” Aleksandr Bashliy said.

On the sidelines of the IEF, negotiations were held with senior executives of the timber processing factory Krasny Oktyabr, one of the largest woodworking enterprises of Perm Territory which was accredited to BUCE following the visit of the official delegation of Perm Territory to Belarus in July 2022. Among the possible areas of cooperation between BUCE and Krasny Oktyabr is the joint promotion of Belarusian sawn timber to the markets of Asia and the Middle East, where the Perm factory already has a circle of regular customers.

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