Business news

MINSK, 30 March (BelTA) – The first broker from Ukraine, DAST, has been accredited with the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from BUCE Spokesman Roman Yaniv.

The company specializes in supplies of Ukrainian agricultural products for the needs of Belarusian production and processing companies.

According to Director of the Ukrainian company Yakov Shibetsky, the Belarusian market is of significant interest for the Ukrainian business, while the exchange mechanism excludes mediators and risks in the work with Belarusian economic entities.

“We have been cooperating with the BUCE for more than six years. We mainly sell rapeseed and sunflower oil cake, oilseeds, corn and soybeans. All these products are in a stably high demand among Belarusian agricultural enterprises. The broker’s status opens new opportunities for us. We plan to expand the range of goods delivered through the exchange and significantly increase the volume of exchange transactions, including by attracting Ukrainian companies,” Yakov Shibetsky said.

In 2015, in accordance with the amendments to the legislation on the commodity exchange trade, non-resident companies of Belarus acquired the right to participate in the BUCE exchange trading as brokers. So far, sixe foreign brokers from Latvia, Lithuania, Poland, Russia, Turkey and Ukraine have been accredited with BUCE. The leader of the business activity rankings is the Latvian broker, Business Support Services, which attracted 14 new participants and made stock transactions to the tune of more than $4 million in 2017.