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15 October 2021, 13:23

Samara Oblast to make broader use of Belarus' Universal Commodity Exchange

An archive photo
An archive photo

MINSK, 15 October (BelTA) – The Chamber of Commerce and Industry of Samara Oblast sees a significant potential for increasing exchange trade with Belarus. This matter was discussed during the visit of a Samara Oblast business delegation to the central office of the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

The parties discussed plans to invite Samara metallurgical enterprises to sell their ferrous and non-ferrous metal products at BUCE, as these products are consumed in significant amounts by the Belarusian manufacturing industry. “Metal products are one of the key export items of Samara Oblast to Belarus. Unfortunately, the path of Samara metal products to Belarusian consumers usually lies through intermediaries, which makes these products more expensive and less competitive in your market. We would like to use the commodity exchange mechanism to establish direct contacts between the manufacturer and the end buyer. It will benefit Belarusian enterprises as well, as they will be able to save money. Therefore, being the largest business association in the region, we are ready to provide assistance with bringing companies from Samara Oblast, including large, small and medium-sized businesses, to your commodity exchange,” Alexei Popov, head of the external relations department of the Chamber of Commerce and Industry of Samara Oblast, said.

In addition to trade in rolled metal, the export of agricultural products can become another promising area of ​​cooperation. In particular, Belarusian dairy products are already delivered to Samara Oblast, while the use of the commodity exchange as an additional sales channel is expected to help boost sales.

With a view to informing Samara businesses about the services offered by BUCE, an agreement was reached to invite Samara manufacturers and trading companies to take part in the international exchange seminar “Market for production and consumption of agricultural products in the Republic of Belarus and the Russian Federation” that will be hosted by BUCE on 9-10 November. This event will offer a great opportunity for networking and showcasing Belarusian and Russian agricultural enterprises specializing in the sale or purchase of feed additives, meal, cake, molasses, grain, cereals, seeds, flour, oilseed processing products.

The Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

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