BUCE expands geography of suppliers of raw materials for Belarus’ textile industry

A Chinese manufacturer of raw materials for the textile industry has sold its products for the first time on the Belarusian Universal Commodity Exchange (BUCE). The amount of the transaction for the supply of polyurethane membrane with knitted mesh to one of the domestic textile industry enterprises totalled Br1.4m. This adds another Asian company to the pool of foreign sellers of these products using the stock exchange platform, sb.by reports citing the BUCE press service.

In addition to diversifying exports of Belarusian goods, the exchange’s tasks also include improving the efficiency of procurement activities of domestic enterprises. An integral part of this work is to attract foreign manufacturers of products in demand in our country to bid for tenders. For example, if we talk about the textile industry, the application of the exchange mechanism made it possible to supply the domestic market with cotton yarn, cotton fibre, calico and other valuable raw materials from Kyrgyzstan, Tajikistan, Turkiye and Uzbekistan in a relatively short period of time. As a result, Belarusian textile enterprises increased their purchases on the stock exchange 6.5 times compared to last year. The entry of Chinese suppliers to the stock exchange will help increase the concentration of supply at auctions and will have a positive impact on the dynamics of Belarusian-Chinese trade turnover in the future,” said BUCE spokesperson Roman Yaniv.

In the first ten months of 2024, the amount of exchange transactions in the ‘Industrial and consumer goods’ sector exceeded Br967m – up 35 percent compared to the same period a year earlier. The highest sales volumes were generated by vehicles, specialised machinery, spare parts and components for industrial equipment, industrial tools, electronics and video and audio recording equipment.