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Belarusian commodity exchange launches timber product supplies to South Korea

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MINSK, 4 June (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) is launching supplies of Belarusian timber products to South Korea, BelTA learned from BUCE’s press service.

“Nam Chang Co., Ltd. became the first South Korean company accredited at the Belarusian Universal Commodity Exchange. This brought the number of countries represented at BUCE to 65,” the press service said.

Nam Chang Co., Ltd. is a big supplier of timber products to the market of South Korea. It also has its own manufacturing facilities and an extensive network of warehouses. The South Korean company intends to buy Belarusian sawn wood and fuel pellets via BUCE. Shipments will be delivered to the Port of Busan by rail and by sea.

“We import timber products from almost all over the world – from Sweden to New Zealand. There is a high demand for such products from the construction industry and the energy sector of South Korea. Lately, we have actively cooperated with suppliers from Russia. Now, we have decided to tap into the Belarusian market in order to expand our business. We do not have any previous experience of trading on a commodity exchange, but we have decided to try it. Thanks to BUCE, we expect to launch regular suppliers of sawn wood and pellets to South Korea while reducing risks as much as possible. After all, Belarus is a new market for us, and BUCE oversees the execution of transactions,” representatives of Nam Chang Co., Ltd. noted.

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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