Business news

6 Jun 2018

Israel-Belarus Chamber of Commerce ready to represent BUCE interests in Israel

MINSK, 6 June (BelTA) – The Israel-Belarus Chamber of Commerce is ready to present the interests of the Belarusian Universal Commodity Exchange (BUCE) in Israel. The matter was discussed at a meeting of the BUCE representatives with a delegation of Israeli businessmen on 6 June, BelTA learned from BUCE spokesperson Roman Yaniv.

According to Director General of the Israel-Belarus Chamber of Commerce Gedaliya Koltanyuk, the Israeli business is interested in developing cooperation with Belarus, including in the exchange trade sector. “Israeli companies often address us with a request to help them in the acquisition of Belarusian products. Industrial wood sold through BUCE is in great demand. Not every company has the opportunity to train its own trader and trade directly on the stock exchange. We are ready to become a BUCE broker in Israel, attract new participants to the auctions and carry out transactions on their behalf. We have the necessary experience and resources,” he said.

In turn, Anatoly Zaretsky, First Deputy Chairman of the BUCE Board, stressed that the development of a network of broker organizations abroad is one of the priorities of the BUCE this year. “We have already accredited brokers in Latvia, Lithuania, Poland, Russia, Ukraine and Turkey, and the practice shows that this is the most effective way of developing cooperation with non-resident companies. Since the beginning of the year, companies from the Baltic States have concluded deals worth more than €3 million, with the assistance of the Latvian broker SIA Business Support Services. We also work on other promising markets and will be happy if you help us increase the exchange trade not only with Israel but also other countries of the Middle East. We are always open for constructive dialogue with potential partners,” added Anatoly Zaretsky.

During the visit to the BUCE, the Israeli delegation got familiar with the procedure for conducting export exchange auctions in timber products, examined quotas for the most popular commodity items and discussed terms of accreditation as a non-resident broker. Experts of the Israel-Belarus Chamber of Commerce will be trained to work with the BUCE trading system, after which the issue of accrediting this organization with the BUCE will be considered.

The Israel-Belarus Chamber of Commerce was founded in February 2014. The organization assists the establishment of business contacts between Belarusian and Israeli economic entities and also promotes Belarusian goods to the Israeli market.