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Belarus, Russia’s Kursk Oblast discuss plans to boost exchange trade

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MINSK, 1 April (BelTA) – Ways to increase exchange trade between Belarus and Kursk Oblast of Russia have been discussed during an online conference, BUCE's Spokesman Roman Yaniv told BelTA.

Addressing the conference, head of the Gomel branch of the Belarusian Universal Commodity Exchange (BUCE) Grigory Ginsar noted that exchange trade is a great way to increase trade between Belarus and Kursk Oblast and invited Kursk entrepreneurs to make the most of this mechanism. According to the BUCE representative, this year Russian companies began to actively use exchange trade, which pushed up the volume of transactions.

“The total amount of all transactions made by residents of the Russian Federation in January - March 2021 approached $38 million, up 1.8 times year-on-year. Close cooperation with neighboring regions of Russia, first of all, Smolensk Oblast, Bryansk Oblast and Pskov Oblast, made a substantial contribution to increasing the volume of exchange trade. We hope that our cooperation with Kursk Oblast will be just as efficient,” Grigory Ginsar said.

After the online conference, some enterprises from Kursk Oblast said they wanted their products to be featured at the BUCE industrial and consumer goods platform. These products include equipment for the food industry, high-tech rubber products, paper packaging and corrugated cardboard.

Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.

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