Business news

12 Mar 2019

South Korean company eager to import Belarusian sawn timber via commodity exchange

Photo from the archive

MINSK, 12 March (BelTA) – The South Korean company Yoo Won Wood Co. Ltd is interested in importing Belarusian sawn timber via the Belarusian Universal Commodity Exchange (BUCE), BelTA has learned.

Top executives of the South Korean company visited the Belarusian Universal Commodity Exchange HQ the other day. Prospects of using BUCE’s assistance to arrange direct shipments of Belarusian commercial timber to the Republic of Korea were discussed. At present the South Korean company buys timber mainly in Russia, Germany, and Baltic states, however, it is considering the possibility of reaching the Belarusian market for the sake of expanding the geography of acquisitions and reducing costs.

According to the South Korean company CEO, buying commercial timber via the commodity exchange is a totally new way to make purchases for them. “But if it allows us to buy Belarusian sawn timber without mediators and at acceptable prices, we are ready to try it,” the businessman noted. “Moreover, the threshold for entering the commodity exchange market of your country is rather low: the minimal purchase volume is only one container load. These are very comfortable conditions for us.”

The Korean delegation was also made familiar with how the BUCE trade system works and with regulations concerning commercial timber trade. Top executives of the South Korean company held negotiations with BUCE’s broker in Turkey – Sarpedon Company – which is ready to ensure the quality of shipments at the point of origin and provide assistance with organizing the logistics.