Business news

20 Oct 2023

Belarusian commodity exchange takes part in BakuBuild expo

An archive photo

MINSK, 20 October (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) is presenting its export opportunities at the international exhibition BakuBuild which is underway in Baku, Azerbaijan on 19-21 October, BelTA learned from the BUCE press service.

The BUCE is taking part in this large scale exhibition forum to attract potential buyers of Belarusian goods from Azerbaijan and other countries interested in importing products for the construction industry.

The BUCE stand showcases the list of exchange goods, terms of participation in trading and principles of the BUCE trading system, and also provides an opportunity for visitors to assess the efficiency of the exchange mechanism by taking part in training trading sessions. Foreign companies also have an opportunity to apply for accreditation and undergo a short course of trading training with the assistance of BUCE specialists.

“This year, Azerbaijan has made it into top three markets for Belarusian goods, and this country ranks second in timber purchases, going behind China only. It is important that transactions are regular and their amount is gradually growing. Compared to January-September 2022, the supply of wood products to Azerbaijan increased in physical terms by 4.3 times to 218,000 cubic meters. Today Azerbaijani companies amount to about a quarter of Belarus’ total export of sawn wood products through the exchange,” the BUCE press service said.

Along with the development of the Azerbaijani direction during the exhibition, the BUCE also plans to expand the pool of exchange trading participants from China, Uzbekistan, Kazakhstan, Turkiye and the United Arab Emirates. According to the BUCE press service, in 2023 companies from these countries have significantly increased purchases of woodworking products on the electronic platform of the exchange. Supplies to the Chinese market amounted to 225%, and increased several times to Uzbekistan, Turkiye, Kazakhstan and the UAE. Accreditation of additional buyers will ensure high dynamics of sales of wood products abroad.