Business news

2 May 2024

BUCE broker in Egypt to supply Belarusian goods to North Africa

Photo coutesy of BUCE

MINSK, 2 May (BelTA) - International Co for Industries and Projects, which became the first broker of the Belarusian Universal Commodity Exchange (BUCE) in Egypt, plans to attract buyers of agro-industrial and woodworking products to the exchange, Director of International Co for Industries and Projects Ahmed Abodooh during the BUCE broker certificate presentation ceremony held as part of the Belarusian-Egyptian business forum in Cairo, BelTA learned from the BUCE press service.

The BUCE new partner plans go beyond the Egyptian market and supply Belarusian goods to Algeria, Morocco, Sudan, and Tunisia, where there is also a high demand for Belarusian products.

According to Ahmed Abodooh, plans are in place to promote the exchange trade between Belarus and Egypt both in the already developed commodity areas and also to add new liquid positions, including dairy products, sugar and potato starch.

“Egyptian companies have already bought wood products at the exchange, so this area is certainly among the priorities. However, as our market research has shown, Belarusian agricultural products are also in high demand in Egypt. In this regard, the launch of supplies of milk powder and whey, beet sugar and potato starch to the Egyptian market will significantly increase the exchange trade with Belarus. Moreover, in the future, we plan to export Belarusian goods to Egypt's neighboring countries, which is a completely different scale and opportunities,” the businessman said.

Chairman of the Board of BUCE Aleksandr Osmolovsky expressed confidence in the successful future of cooperation with the International Co for Industries and Projects and emphasized the exchange's readiness to assist the Egyptian broker in any aspects of its activities in Belarus.

“I am sure that thanks to you we will be able to give a new impetus to the development of exchange trade between Belarus and Egypt, significantly increasing the number of Egyptian companies using the exchange mechanism, as well as the volume of transactions concluded by them. Egypt is not only an important market for Belarusian products but also a promising platform for reaching consumers from other North African countries. I have high hopes for our partnership and I am ready to provide you with any necessary support and assistance,” the BUCE head said.

During the visit to Cairo, the BUCE delegation also held a number of meetings with representatives of Egyptian business interested in cooperation with the exchange. The parties are mulling over imports of food raw materials and canned fruits to Belarus via the platform of industrial and consumer goods as well as exports of vegetable oils, fodder additives and petrochemical products of Belarus to Egypt.