BUCE to take part in creation of new international stock exchange association

The Belarusian Universal Commodity Exchange has joined the declaration on the establishment of the International Association of Commodity and Futures Exchanges, which will initially unite the exchange platforms of Belarus, India, Iran, Kazakhstan, China, Russia, and Uzbekistan. The document signing ceremony took place at the recent St. Petersburg International Economic Forum, sb.by reports with reference to the BUCE press service.

It is assumed that the new association will become a key platform for interaction between commodity and futures exchanges of the EAEU+, SCO and BRICS+ countries, which will allow for a co-ordinated policy on the development of organised commodity markets in accordance with the best international practices. In particular, special attention is planned to be paid to cross-border exchange trading, as well as the implementation of a project to create an international pricing agency, on the basis of which a system of fair and independent price indicators for key goods will be formed.

“The efficiency of the real sector of the economy and the realisation of the export potential of domestic enterprises have always been a priority for the Belarusian Universal Commodity Exchange. Therefore, the signing of the declaration is primarily a new opportunity for participants in exchange trading from Belarus. Our clients will benefit from the creation of this new inter-exchange association, which is planned to cover the EAEU+, SCO and BRICS+ countries due to the elimination of trade barriers, simplified access to promising markets, expansion of the circle of business partners, additional trading and marketing tools. Differently speaking, this is not just a declaration of intent for us, but a strategic decision aimed at achieving concrete results, and Belarusian business entities will become the main beneficiaries,” Chairman of the Board of the Belarusian Universal Commodity Exchange Aleksandr Osmolovsky said.

Apart from BUCE, the declaration was signed by the St. Petersburg Stock Exchange (Russia), the Eurasian Trading System Commodity Exchange (Kazakhstan), the Uzbek Republican Commodity Exchange, the National Commodity Derivatives Exchange of India, the Commodity Exchange of Iran, and the Xinjiang Asian-European International Trade Centre (China).