BUCE to help Asian companies import Belarusian agricultural products
The Belarusian Universal Commodity Exchange (BUCE) plans to become an electronic trading hub and a centre of up-to-date information about the commodity market of Belarus for buyers of agricultural products from the countries of the Asian region, while being also ready to provide consulting support to Asian companies interested in doing business in Belarus – as noted by BUCE representative in Shanghai Gleb Dobrinin during a business forum on trade-economic co-operation in the agricultural sector in Central and Southeast Asia, held in the city of Xi’an, the BUCE press service reports
The event – attended by importers and distributors of agricultural products from over 100 organisations in China, Malaysia, Indonesia, Vietnam, Kyrgyzstan, Kazakhstan and Uzbekistan – was organised by the Shanxi branch of China Council for the Promotion of International Trade.
“Today all agricultural producers in Belarus are working on the exchange, including milk processors, oil extraction plants, and sugar industry enterprises. Their products enjoy popularity in the Asian market and are already supplied to separate countries through exchange trading. For example, since 2022, Chinese companies have been purchasing rapeseed oil, milk powder and wet blue leather on the stock exchange., while meat products, sugar and milk powder are delivered to Kazakhstan, Kyrgyzstan and Uzbekistan. I would like to make a special mention of Mongolia. Thanks to the efforts of our Mongolian broker, literally in a few months of 2024, this country entered the top-3 buyers of our granulated sugar. In other words, the Asian direction of stock trading is actively developing, and we are open to proposals for co-operation,” underlined BUCE representative in Shanghai Gleb Dobrinin.
During the forum, targeted negotiations were held with Asian food industry enterprises on purchasing Belarus’ dairy products through BUCE. As a result, the participants agreed to sell whey powder to China. Moreover, the Malaysian Chamber of Commerce and Industry in China expressed its readiness to assist in attracting Malaysian producers of palm oil – popular among domestic confectionery enterprises – to BUCE.
The BUCE representative office in Shanghai opened in 2023 to expand the pool of Chinese users of the exchange platform, promote Belarusian goods on the Chinese market and organise supplies of import-substituting products in demand in Belarus. Currently, 167 Chinese residents are accredited at BUCE, including 3 stock brokers.
