Commodity exchanges of Belarus, Ghana identified areas of interaction
Following the results of online negotiations between representatives of the Belarusian Universal Commodity Exchange (BUCE) and the Ghana Commodity Exchange (GCX), promising areas of interaction between the two electronic platforms have been identified in terms of the development of mutual exchange trading and technology transfer, sb.by reports with reference to BUCE
Taking into account the range of products that are currently presented on the platforms of BUCE and GCX, the parties intend to focus on agricultural products. According to experts of the Belarusian and Ghanaian stock exchanges, this commodity group opens up good opportunities for co-operation in both export and import directions, which fully meets the interests of Belarus and Ghana. In this regard, GCX expressed its readiness to assist in attracting producers of soybeans, corn and rice to BUCE. In turn, Ghana plans to import Belarusian meat products, flour and wheat gluten.
According to GCX CEO Setutsi Goka Ivowi, the services of Ghana’s platform are used by the leading agricultural enterprises in the country, so business partners for Belarusian bidders are likely to be found with less effort. “I want to emphasise that – as a state organisation – we work primarily in the interests of our companies, which need new markets and reliable sources of import supplies. Therefore, we are open for dialogue and are ready to consider any proposals from the Belarusian side on the implementation of joint projects in the exchange sector," she said.
In turn, the Head of the BUCE Foreign Economic Activity Department, Aleksandr Bashliy, suggested that the agreements reached be put into practice as soon as possible and, as a first step, accredit several Ghanaian companies on the Belarusian stock exchange. “Each Ghanaian company will be supported at all stages of work on the stock exchange. The African market is of strategic importance for Belarus. Accordingly, in order to achieve practical results, we are ready to invest time, effort and money in the development of this area," he noted.
In addition to organising mutual supplies of goods, the Belarusian and Ghanaian exchanges agreed to exchange price data, methodological materials and technological experience. The co-operation within the framework of supranational exchange associations, such as the World Association of Exchanges and the Association of African Commodity Exchanges was also agreed upon.
