Business news

1 Aug 2022

Russian woodworking company plans to trade via Belarus’ commodity exchange

An archive photo

MINSK, 1 August (BelTA) – The Krasny Oktyabr Sawn Timber woodworking and logging enterprise from Perm Territory has plans to get accredited at the Belarusian Universal Commodity Exchange (BUCE) and take part in trading, Alexander Susloparov, director general of the company and chairman of the Association of Timber Manufacturers of Kama Region, said as he visited the BUCE central office, BelTA learned from the BUCE press release.

According to the businessman, his company has gained a wealth of experience as a broker on the Saint-Petersburg International Mercantile Exchange (SPIMEX), which can come in handy when working on the Belarusian Universal Commodity Exchange, while a wide network of partners in Asia and the Middle East will help bring more participants from these regions to BUCE.

“We ship our products to many countries worldwide, mostly to China, India, Southeast Asia and the Middle East. Of course, these are going to be the most promising markets, including for Belarusian timber products. Therefore, I think that by combining our expertise and competencies with your technologies and tools we will get a substantial synergistic effect,” Alexander Susloparov emphasized.

For his part, Chairman of the Board of BUCE Aleksandr Osmolovsky pointed to the increased interest of Russian companies in Belarusian woodworking products. Due to convenient logistics and strong business ties, Russia is one of the most attractive export destinations for Belarus.

“Companies from more than 70 regions of Russia are accredited on our platform and conclude deals. Earlier Russians mostly bought agricultural products on the stock exchange, while today they are interested in almost all kinds of commodities produced in Belarus. A striking example is sawn timber. In January-July, their export to the Russian market increased six times. The growth came on the back of new participants on the exchange platform - primarily from those regions of the Russian Federation where we regularly hold offsite and online events for local businesses. For example, last week a company from Rostov Oblast purchased 150 cubic meters of board at exchange auctions for the first time, and the regional export support center said it wants to become our broker. This is also the case with other Russian regions,” Aleksandr Osmolovsky said.