First BUCE broker in Egypt to ensure supplies of Belarusian agricultural products and lumber to North Africa
International Co. for Industry and Projects, which has become the first broker of the Belarusian Universal Commodity Exchange (BUCE) in the Arab Republic of Egypt, intends to attract buyers of agro-industrial and woodworking products. At the same time, it plans not to work exclusively with the Egyptian market, but to ensure the supply of Belarusian goods to Algeria, Morocco, Sudan and Tunisia, since these countries are much interested in them. The plans were announced by Ahmed Abodouh, the Chief Executive Officer of International Co. for Industry and Projects, during the ceremony of awarding the BUCE broker certificate organised as part of the Belarusian-Egyptian business forum in Cairo.
As reported by sb.by with reference to the BUCE press service, the Egyptian businessman informed that the bilateral exchange trade development is planned in the already mastered commodity areas and new ones – such as dairy products, sugar, and potato starch.
“Previously, Egyptian companies bought woodworking products on the stock exchange, so this area is certainly one of the priorities. However, as our marketing research has shown, Belarusian agricultural products are also in high demand in Egypt. In this regard, the launch of supplies of powdered milk and whey, beet sugar and potato starch to the Egyptian market will significantly increase the exchange turnover with Belarus. Moreover, we intend to establish exports of Belarusian goods to the countries neighbouring Egypt in the future, and this will entail completely different scales and opportunities," Ahmed Abodouh said.
For his part, BUCE Chairman Aleksandr Osmolovsky expressed confidence in the successful future of co-operation with International Co. for Industry and Projects and stressed the exchange's readiness to assist the Egyptian broker in any aspects of its activities in Belarus.
“I am sure that, thanks to you, we will be able to give a new impetus to the development of exchange trading in Belarus and Egypt, significantly increasing the number of Egyptian companies using the exchange mechanism, as well as the volume of concluded transactions. In addition, Egypt is not only an important market for Belarusian products for us, but it is also a promising platform for reaching consumers from other North African countries. Therefore, I have high hopes for our partnership and am ready to provide you with any necessary support and assistance," Mr. Osmolovsky said.
During its visit to Cairo, the BUCE delegation also held a number of meetings with representatives of Egyptian businesses interested in co-operation with the exchange. As a result of the negotiations, the possibility of importing food raw materials and canned fruits to Belarus using the BUCE industrial and consumer goods platform is being worked out. Export supplies of Belarusian vegetable oils, feed additives and petrochemical products to Egypt are also in focus.
