BUCE and China Branch of BRICS Institute to promote development of Belarus-China exchange trading

The Belarusian Universal Commodity Exchange (BUCE) and the China Branch of the BRICS Future Network Research Institute (BIFNC) have signed a memorandum of co-operation. The BUCE press service added that interaction will enable the two sides to actively develop the electronic exchange trading of Belarus and China while strengthening trade-economic relations between the countries.

“Accreditation of BIFNC as a broker can become one of the promising areas of interaction, enabling us to use BIFNC’s wide network of business contacts and attract sellers and buyers from China to the auction while also concluding transactions on their behalf. Such collaboration will ensure the growth of exchange trade between Belarus and China. It is assumed that at the initial stage, Belarusian lumber and fuel pellets – the most demanded commodity items on the Chinese market – will become the object of transactions,” BUCE reported.

The first training webinar was held for BIFNC specialists, where they studied the features and procedure for conducting export exchange trading in woodworking products. Webinars will be organised for other groups of goods presented on the Belarusian stock exchange.

98 Chinese companies work at the BUCE, with three of these boasting the status of stockbrokers. In January-August 2022, the amount of transactions they completed totalled $28m.