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Belarusian commodity exchange to cooperate with All Pakistan Timber Traders Association
MINSK, 20 December (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) will cooperate with the All Pakistan Timber Traders Association (APTTA), the BUCE told BelTA following the online negotiations.
The key point on the agenda was the organization of supplies of Belarusian sawn timber to the Pakistani market using the exchange mechanism. The parties touched upon such issues as accreditation of Pakistani companies on the BUCE, the procedure for participation in trading, specifics of exchange pricing, legal registration and settlement of transactions, control over the execution of exchange contracts, and their transportation and logistics support.
Special attention was paid to the role of APTTA in attracting Pakistani importers to the Belarusian trade platform. According to APTTA Board Chairman Muhammad Sharjil Goplani, the association is ready to act as a bridge between the BUCE and buyers from Pakistan, assisting in raising awareness of the Pakistani business community about the possibilities of using exchange instruments.
“The visit of the Belarusian president to Islamabad in November this year has given a powerful impetus to the development of trade and economic relations between our countries and, among other things, has contributed to the launch of cooperation in new promising avenues. One of them is exchange trade. I believe that import of Belarusian timber, given their high demand in Pakistan, can become a starting point for long-term mutually beneficial cooperation between Belarusian and Pakistani businesses in the commodity exchange sector. Therefore, being one of the largest industry associations in the country, we are ready to use our network, resources and credibility to bring Pakistan's timber industry to the BUCE platform,” the APTTA chief said.
The proposal of the Pakistani side was supported by the BUCE. According to the head of foreign economic activity at BUCE Aleksandr Bashlii, Belarusian exporters already have experience in supplying timber products to South Asia through exchange trading.
“Since 2024, Belarusian-made sawn timber has been successfully sold through the exchange to the Indian market. So far, only nine deals have been concluded with a total volume of about 6,500 cubic meters, but the dynamics is positive and sales are gradually picking up. I am sure that we will be able to work with Pakistani buyers in a similar way. The main thing is to increase the visibility of the BUCE among the Pakistani business community. APTTA's assistance in solving this issue will certainly be very much appreciated,” Aleksandr Bashliy said.
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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