Business news
Belarusian commodity exchange posts 13-fold rise in exports to UK
An archive photo
MINSK, 20 May (BelTA) – Export of Belarusian products to the United Kingdom via the Belarusian Universal Commodity Exchange (BUCE) amounted to $9.4 million in January-April 2021, which was up by 13 times year-on-year, BUCE's Spokesman Roman Yaniv told BelTA.
Belarus’ major exports to the UK were sawn wood of coniferous trees and wood stakes. In January-April, the UK companies bought $9 million worth of these products. The vet-blue semi-finished leather product made from cattle hides was also popular. Its supplies to the UK market were launched in March 2021.
“In January-April, the United Kingdom was the fastest-growing export market at BUCE, doing even better than the previous leader China. This was possible thanks to attracting a big importer of timber products from the UK to BUCE. This enabled Belarusian woodworking companies to sell sawn timber to the United Kingdom without mediators and at even better terms that to the Baltic states,” Roman Yaniv said. BUCE is considering holding special trading sessions to sell timber products to the UK market.
The growth in export to the UK was also attributed to the resumption of supplies of the vet-blue semi-finished leather product. “Six weeks after the resumption of trade in this product, the transactions in it already totaled $319,000, and after two weeks of May they amounted to $290,000. We expect vet-blue sales to continue increasing,” Roman Yaniv added.
Apart from the United Kingdom, BUCE also reported significant export growth to China, Switzerland, and Russia: 9.5 times, 7.5 times, and 3.7 times respectively.
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.
print version
make home page
add to bookmarks
