BUCE to simplify access to Belarusian market for Egyptian businesses

The use of exchange trading tools will significantly simplify the work of Egyptian companies in the Belarusian market by organising direct interaction between enterprises of the real sector of the two countries – as stated by Aleksandr Osmolovsky, the Chairman of the Board of the Belarusian Universal Commodity Exchange, as he met with the leadership of the Egyptian KATO Investment Holding that is interested in accreditation at the BUCE for export-import activities in Belarus, sb.by reports with reference to the trading platform’s press service

“Almost 26 thousand Belarusian enterprises from all key branches of industry and agriculture liaise with the stock exchange, generating tens of thousands of purchase and sale orders daily. Therefore, in most cases, participation in stock trading is quite enough for foreign companies to conduct successful business in Belarus. In addition, a simplified accreditation procedure is available for residents of 22 countries, and this enhances the attractiveness of the exchange platform. Egypt is not on this list yet, but we are ready to elaborate this issue as part of the development of the Belarusian-Egyptian stock exchange trade,” Mr. Osmolovsky noted.

During the negotiations, the parties exchanged views on practical implementation of the agreements reached, also outlining a list of goods for mutual trade through the exchange platform. In particular, it is planned to supply Belarusian lumber, dairy products, sugar, vegetable oils and synthetic fibre to Egypt, which will in turn sell polymer products, cotton yarn, fruits and vegetables to Belarus.

At the same time, according to KATO Investment founder Ibrahim Kamel, these commodity items are just the foundation which further interaction of the Egyptian holding with the stock exchange will be built upon. Actually, the range of mutual interests of Belarus and Egypt is much wider.

“In my opinion, the current climate is particularly favourable for strengthening trade and economic relations between Belarus and Egypt, and the intensification of exchange trading is an integral part of this process. Our company has many years of experience in the field of international trade, including with Belarus, and all the product areas that we have identified as priorities are well known to us. Taking the first step is the key point, and we further need to get accredited to participate in the auction. I am sure that the exchange mechanism will fit perfectly into our business model and make our activities in the Belarusian market more efficient," the Egyptian businessman believes.

As of February 1st, 2024, five residents of Egypt were accredited to the BUCE. The structure of transactions is dominated by imports of woodworking products from Belarus.

Photos by BUCE press service