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Russian companies increasingly active at Belarusian commodity exchange in January-May

MINSK, 27 June (BelTA) – In January-May 2023 the amount of transactions made by Russian companies on the import substitution platform of the Belarusian Universal Commodity Exchange increased by 36% year-on-year, Chairman of the Board of BUCE Aleksandr Osmolovsky said at a joint event of the Belarusian and Russian chambers of commerce and industry "Promising trends for the development of business cooperation between the two countries" on the sidelines of the 10th Forum of Regions of Belarus and Russia in Ufa, BelTA has learned.

In May 2022 BUCE launched an electronic trading platform for import substitution. Since then more than 38,000 transactions have been concluded, and more than 2,000 purchase bids and about 62,000 sale orders have been placed, Aleksandr Osmolovsky noted. "In January-May 2023 the amount of transactions by residents of the Russian Federation on the BUCE import substitution platform increased by 36% as against the same period a year prior, and the number of Russian participants has reached 3,260, up by more than 400," he said.

Small private enterprises and individual entrepreneurs from the regions are especially eager to take part in exchange trading. "This year we have hosted companies from more than 30 regions of the Russian Federation. Companies from Moscow, Moscow Oblast, St. Petersburg, Leningrad Oblast, Smolensk Oblast, Khakassia and Kaliningrad Oblast are most active participants. Some participants, having read about us on the internet or having heard positive feedback from colleagues, get in touch with us but the majority of clients come through our dedicated effort. We use all the resources and communication channels available to attract as many customers as possible. Close cooperation with regional chambers of commerce and industry, export promotion centers and business associations plays a key role," Aleksandr Osmolovsky noted.

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