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Uzbekistan among top 5 buyers of Belarus’ sawn timber at BUCE
An archive photo
MINSK, 6 September (BelTA) – In January - August 2023, Uzbekistan entered the top five markets for sawn timber at the Belarusian Universal Commodity Exchange (BUCE), Head of Foreign Relations at BUCE Aleksandr Bashliy said addressing representatives of Uzbekistan’s business community at the second meeting of the Belarus-Uzbekistan Business Council, BelTA learned from the BUCE press service.
The other biggest buyers for Belarusian sawn products include China, Azerbaijan, Singapore and Russia. All in all, in 2023 transactions to buy wood products at BUCE were concluded by companies from 15 states.
“The export of domestic wood products to Uzbekistan increased more than 8.5 times over January-August last year, and there are all grounds to believe that the good dynamics will remain in place. One of the reasons is a higher number of bidders from Uzbekistan. In particular, this year transactions to buy sawn timber were made by 18 companies from Uzbekistan, most of which joined BUCE over the past three to four months. In general, the number of accredited resident companies from Uzbekistan has reached 80 by now, a sharp rise from only 45 at the start of the year,” Aleksandr Bashliy said.
According to him, in 2023 Belarus-Uzbekistan inter-exchange cooperation has grown increasingly vibrant. This facilitates the exchange of up-to-date analytical information on the exchange markets of the two countries, and opens up new opportunities for bringing more commodity items to the exchange trading platform.
“In H1 2023, in line with the strategic partnership agreement between the Belarusian Universal Commodity Exchange and the Uzbek Commodity Exchange, training seminars were held in Minsk and Tashkent for brokers of the two exchanges. As a result, brokerages that passed certification got access to the exchange trading platforms of Belarus and Uzbekistan. As far as practical benefits of these activities are concerned, one of the Uzbek brokers helped arrange the first deliveries of Belarusian sugar to Uzbekistan. In other words, inter-exchange interaction is developing dynamically and is bearing fruit,” the BUCE representative emphasized.
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