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Belarusian commodity exchange accredits its first broker in Israel

MINSK, 23 March (BelTA) – Global Edge Sourcing Ltd, a major Israeli distributor of furniture and finishing materials, became the first broker of the Belarusian Universal Commodity Exchange (BUCE) in Israel. The company’s trader has already passed the certification and has been allowed to participate in the exchange trades, BUCE's Spokesman Roman Yaniv told BelTA.

According to Boris Gelfand, one of the founders of Global Edge Sourcing Ltd, the company plans to organize direct deliveries of Belarusian timber to the Israeli market where there is an increased demand for these products today.

"Our company is one of the major distributors of timber products in Israel with almost 20 years of experience. Until recently, we mainly worked with suppliers from Ukraine, and now, as part of our expansion efforts, we decided to branch out into Belarus. To begin with, we plan to focus on timber, because it is a familiar segment for us, and we will be able to quickly find potential buyers. In this respect, the main advantage of the stock exchange is that it brings together hundreds of public and private woodworking companies, and we do not need to negotiate separately with each of them. Therefore, when we were planning to access the Belarusian market, we did not event consider other options - only exchange trades,” the Israeli businessman said.

Boris Gelfand also noted that in the future Global Edge Sourcing Ltd intends to purchase other goods in Belarus in the future, for example, steel products.

"I know that BUCE trades in reinforcing bars produced by the Belarusian Steel Works. In Israel, these products are also very popular. So along with timber we would like to explore this segment. In general, I believe that the stock market trade has a huge potential, which we will gradually harness," he said.

Currently, more than 50 brokerage companies are accredited at BUCE, including from Germany, Israel, China, Lithuania, Latvia, Poland, Russia and Estonia.

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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