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Belarus sells first batch of meat products to Azerbaijan via commodity exchange

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MINSK, 4 November (BelTA) - The first batch of Belarusian meat by-products have been sold to Azerbaijan via the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

The seller was one of the leading meat-processing enterprises of Brest Oblast, and the buyer - an Azerbaijani trade organization specializing in import of meat and meat products for the food industry. The total volume of the two transactions amounted to 18 tonnes.

According to BUCE, earlier Azerbaijani participants mainly bought timber and dairy products on the exchange platform, so the expansion of commodity nomenclature in the segment of meat and meat products opened up new opportunities for the development of exchange trade between Belarus and Azerbaijan.

“At present, Azerbaijan ranks third after Russia and China in terms of exchange trade with Belarus. In January-October 2024, companies from this country concluded exchange transactions for more than $91 million, exceeding the figure of January-October 2023 by two and a half times. All of these were exports of Belarusian goods - mainly woodworking products, which accounted for 90% of supplies. The growth of exchange sales is primarily due to the expansion of regular buyers from Azerbaijan. Their number increased by almost 1.5 times. Strong trade and economic ties between the two countries, the absence of language barrier and the possibility of simplified accreditation when using the mechanism of targeted transactions contributed to the arrival of Azerbaijani business at the exchange,” the press service said.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

As of 1 November 2024, a total of 132 residents of Azerbaijan were accredited on BUCE. The number of bidders from Azerbaijan has increased by 41 companies since the beginning of the year.

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