Business news

MINSK, 5 February (BelTA) – The Kazakhstan-based company Renmak obtained the status of a non-resident exchange broker at the Belarusian Universal Commodity Exchange (BUCE). Rashid Ganiyev, director of the Kazakh company, received the certificate at the BUCE central office, BelTA learned from the commodity exchange.

According to Chairman of the BUCE Board Arkady Salikov, one of the BUCE’s top-priority tasks for 2018 is to develop the broker network. “We already have four non-resident brokers in Latvia, Lithuania, Russia, and Turkey. Such cooperation has already proved its effectiveness. In 2017, the Latvian-based broker attracted 14 new clients to the commodity exchange and sealed over $4 million worth of deals alone. We hope that cooperation with the Kazakh partner will be equally effective,” he remarked.

In turn, Rashid Ganiyev underlined that the Belarusian market is of great interest to the Kazakh business and that commodity trading gives direct access to almost 15,000 Belarusian companies accredited at the BUCE. “Every day we receive applications from Kazakh companies that want to buy Belarusian products. In this regard, the commodity exchange is the best option possible as it ensures the greatest concentration of supply possible from Belarusian companies and reduces the risks inherent to cross-border trade,” Rashid Ganiyev emphasized.

Renmak supplies special vehicles and equipment to Kazakh mining companies, including such large ones as Kazakhmys Corporation and Kazzinc. In the capacity of a BUCE non-resident broker, Renmak will purchase Belarusian goods on behalf of its clients and encourage Kazakh companies to take part in commodity trading.