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14 June 2022, 15:53

SMEs account for 64% of BUCE import substitution platform users

An archive photo
An archive photo

MINSK, 14 June (BelTA) – According to the Belarusian Universal Commodity Exchange (BUCE), small and medium-sized businesses are the most active users of the import substitution platform launched by BUCE in late May 2022, BUCE Press Secretary Roman Yaniv told a BelTA correspondent.

SMEs account for 64% of the platform users. Most of them produce and supply products that replace those commodities that came under the sanctions. Thus, besides providing the country's domestic market with critical imports, the BUCE trading platform also encourages SMEs to get involved in the import substitution effort.

“More than 90% of sellers on the import substitution platform are small businesses that offer their products to large government customers. At the same time, recent years have seen a growing interest in the delivery of goods on order on the part of bidders. Over the past week, more than 50 such transactions were made, including those involving the manufacture of goods according to customer drawings. This way two important tasks are solved: vacant niches are quickly filled with domestic products, while entrepreneurs benefit from a stable flow of orders from public sector organizations,” the press service noted.

As of 14 June, 2,873 orders for purchase and 35,928 orders for sale were placed on the BUCE import substitution platform, including 157 orders for the supply of goods on order. Since the launch of the platform, Belarusian and foreign companies have concluded 1,264 transactions involving import-substituting products.

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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