Business news

MINSK, 21 August (BelTA) – OAO Belarusian Universal Commodity Exchange (BUCE) and the National Forage Union of Russia have signed a partnership agreement, the BUCE press service told BelTA.

BUCE and the Russian association intend to work together to advance Belarus-Russia trade and economic cooperation, in particular, the optimization and harmonization of the common market of forage, premixes, and feed supplements. Close attention will be paid to broader use of digital trade instruments for buying these commodities. Plans have been made to help commercial entities minimize the cost of marketing efforts and search for potential business partners and remove intermediaries by establishing direct contacts between Russian producers and Belarusian consumers.

An information and education seminar for members of the National Forage Union of Russia in the BUCE representative office in Moscow will be the first practical step. A presentation of digital trade opportunities and B2B negotiations with interested companies will be held as part of the seminar.

The National Forage Union of Russia was established in 2013. It is part of the Russian Grain Union (RGU). The union comprises Russia’s top producers and vendors of feed supplements, premixes, and concentrated feed. The union is intent on promoting and protecting the industry’s interests in government agencies and at the international level.