BUCE to export petrochemicals for Indian pharmaceutical industry
For the first time, a pharmaceutical company from India, Tosco Pharmachem, has been accredited at the Belarusian Universal Commodity Exchange. The company – engaged into production and sale of chemical compounds and reagents for the Indian pharmaceutical industry – plans to purchase petrochemical products from Belarus (acetone cyanohydrin) and also other chemicals and preparations in the future.
As reported by the BUCE press service, India is among the top three world pharmaceutical producers, so its interest in the Belarusian exchange platform opens up new export opportunities for the domestic petrochemical industry. “In addition to increasing the Belarusian-Indian exchange turnover, this will enable the country to gain experience in the Indian market. It will be useful when selling other popular goods to India, including synthetic fibres that are already being exported to Pakistan. We are negotiating with Belarusian manufacturers who are ready to put up for auction the volumes of products which the Indian company needs. After the conclusion of a pilot deal, the issue of expanding the product range will be considered,” it said in a statement.
As informed, the increase in supplies of Belarusian goods to Asia and the Middle East is among the priorities to ensure diversification of exchange exports. In particular, from January-October 2022, exports of Belarusian products to China doubled against the same period last year, while sales to Singapore rose 6.6 times, to Turkey – 21 times, to Uzbekistan – 30 times.