Business news
Pakistan willing to cooperate with BUCE
An archive photo
MINSK, 25 November (BelTA) – Pakistani business associations see a significant potential for the development of electronic exchange trade with Belarus and are willing to use all opportunities of the Belarusian Universal Commodity Exchange (BUCE) to conclude import-export deals, establish new business contacts and obtain relevant price and marketing information. These and other promising areas of cooperation in the exchange market were discussed during the B2B negotiations held within the framework of the Belarusian-Pakistani business forum in Islamabad on 25 November, BelTA learned from the BUCE press service.
Assistant Chairman of the BUCE Board Yaroslav Kovalchuk presented the Belarusian exchange platform at the event. According to him the products of the Belarusian timber industry are of the greatest interest to Pakistani business communities. In this regard, the BUCE is set to to attract major Pakistani timber importers to the exchange in order to organize their regular participation in the exchange trading of timber.
"This work will be supported by the All Pakistan Timber Traders Association, which has shown its readiness to assist in informing the industry about the opportunities and benefits of the exchange mechanism. We have reached similar agreements with the Federation of Pakistan Chambers of Commerce and Industry, the Islamabad Chamber of Commerce and Industry and the Pakistan Mercantile Exchange. For the time being, the Belarusian exchange has accredited only two companies from Pakistan, so the most important task at this stage is to increase the number of Pakistani participants and conclude the first deal," Yaroslav Kovalchuk emphasized.
He also held meetings with local agricultural producers to discuss the sale of grain crops, fruit and vegetable products in Belarus on the margins of the Belarusian-Pakistani forum. Following the BUCE presentation, Pakistani metal trading companies that participated in the forum expressed their intention to sell ferrous metal products through the Belarusian exchange.
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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