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28 September 2022, 17:27

Sverdlovsk Oblast consumer union seeks broker status at Belarus' commodity exchange

An archive photo
An archive photo

MINSK, 28 September (BelTA) – The Sverdlovsk Oblast Consumer Union plans to become a broker of the Belarusian Universal Commodity Exchange (BUCE) in Russia, Elena Shanina, Chairperson of the Board of the Sverdlovsk Oblast Consumer Union, said during her visit to the Belarusian Universal Commodity Exchange, BelTA has learned.

As a broker, the Sverdlovsk Oblast Consumer Union plans to buy Belarusian agricultural products, representing the interests of the region's cooperative organizations at the exchange. “The purpose of our visit is to provide the union consumer cooperative organizations with quality agricultural products in the required volume. We see accreditation as a broker as the most expedient way of interaction. This way we will be able to accumulate requests from our companies for Belarusian goods and then place the corresponding bids in the exchange trading system. It will be a kind of bulk purchase on behalf of the Sverdlovsk Oblast consumer cooperative enterprises,” Elena Shanina explained.

First Deputy Chairman of the Board of the Belarusian Universal Commodity Exchange Eduard Belsky expressed the readiness of the exchange to cooperate with the Sverdlovsk Oblast Consumer Union in any format that suits the Russian side. “We are open for cooperation in any format and in any area. The main thing is to make our joint activity contribute to the development of exchange trade between Belarus and Sverdlovsk Oblast. So far only 74 companies from that Russian region have been accredited on the exchange. As you see, there is a lot more to do in this respect,” Eduard Belsky stressed.

The BUCE first deputy chairman also drew attention of representatives of the Sverdlovsk Oblast Consumer Union to the fact that in addition to elimination of excessive intermediary links the exchange mechanism helps minimize most problematic moments faced by companies involved in cross-border trade. According to Eduard Belsky, this function of the exchange may be in demand by the Sverdlovsk Oblast consumer societies. “You will not encounter unscrupulous suppliers on the exchange, because all of them are screened out at the accreditation stage. Moreover, we support each transaction from start to finish; therefore, even if any difficulties arise in the process of contract fulfillment, the bidder is never left alone and can count on the exchange to get maximum assistance in settling the issue. This is the reason why many foreign companies, including those from Russia, prefer to work through the exchange platform, thereby avoiding unnecessary risks,” Eduard Belsky stressed.

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