Belarusian Universal Commodity Exchange’s turnover exceeds $4bn, branch in China planned
Development of exchange trading and, in particular, commodity exchange markets is an important direction of Belarus’ state trade policy – as noted by the Minister of Antimonopoly Regulation and Trade, Aleksei Bogdanov, at a general meeting of the CIS International Association of Exchanges
“The Belarusian Universal Commodity Exchange’s operation last year demonstrated serious successes in the provision of the domestic market and production facilities with necessary raw materials purchased under a transparent scheme and a fair price. In 2021, its turnover exceeded $4bn, and more than 5,000 items were offered for sale at BUCE. Over 400,000 transactions were registered. At the moment, more than 28,500 companies from 70 countries are accredited with our Exchange,” Mr. Bogdanov said, adding that this enables BUCE to quickly find new sales markets and customers, while diversifying supplies under the conditions of sanctions pressure. “This refers to energy, agricultural and woodworking products. Work is constantly underway to expand the range of products offered at the Exchange,” he noted.
According to Mr. Bogdanov, Belarus also plans to open a BUCE branch in China. “This will enable us to increase supplies of products, including raw materials and food, in this direction,” he noted.