BUCE to first offer goods from Singapore company for sale
This refers to the sale of high-tech industrial equipment at the import substitution site of the Belarusian Universal Commodity Exchange (BUCE). Two new companies from Singapore have already been accredited, and they plan to submit their first bids for sale in the near future. According to the BUCE press service, previously Singaporean companies participated in exchange trading exclusively as buyers.
“Under the application for purchase placed by one of domestic industrial flagships, manufacturers of the laser equipment from Singapore are attracted. We are planning to intensify exchange trading with this Asian country, which so far acts as a net importer of Belarusian goods, mostly skimmed milk powder. Recently, there has been an increased demand for woodworking products, e.g., in 2022, the exchange export of sawn timber to Singapore totalled $9.3m – much more than in 2021,” the BUCE press service underlined.
Nine companies from Singapore are accredited at BUCE. At the same time, some of them regularly participate in special trading sessions for the sale of sawn products for export with delivery to the country of destination. It is expected that placing orders for the sale of import-substituting goods of Singaporean production in the BUCE trading system will create a favourable competitive environment and, accordingly, reduce the costs of Belarusian enterprises purchasing products at exchange auctions.