Belarusian and Russian goods account for over 60 percent of BUCE import substitution site turnover
Belarusian and Russian goods provide more than 60 percent of the turnover of the import substitution platform of the Belarusian Universal Commodity Exchange (BUCE). Such data for January-June 2023 was announced by Chairman of the BUCE Board Aleksandr Osmolovsky, speaking in the section – The Role of Modern Information Technologies in the Development and Improvement of the Institutions of the Union State – within the 10th Forum of Regions of Russia and Belarus, held in Ufa (Republic of Bashkortostan).
“Since the launch of our trading platform, more than 38,000 transactions with import-substituting goods worth about 11bn Russian Roubles have been made on it. Almost 2,000 companies – residents and non-residents of the Republic of Belarus – took part in the auction. Today, about half a million unique commodity items are presented on the site, but the goods of Belarusian and Russian manufacturers are in the greatest demand. They account for 43 percent and 18 percent of the total amount, respectively. This suggests that goods from Belarus and Russia are confidently competing with foreign-made products. In general, the dynamics of transaction volumes and the regular increase in the number of bidders give grounds to assert that the tool we created is in demand both among state-owned companies, which mainly act as buyers, and among private businesses, which have received direct access to large customers and the opportunity to enter new markets,” said Aleksandr Osmolovsky.
The Head of BUCE also drew attention to the transit potential of the stock exchange, noting the leadership of Russian companies in terms of the amount of transit transactions concluded this year.
“Since early 2023, more than 50 transit transactions have been concluded between residents of the Russian Federation for a total of 544m Russian Roubles – the highest figure among all foreign participants using our electronic platform,” said the Chairman of the BUCE Board.
