Geography of foreign users of BUCE industrial and consumer goods platform expanded to 15 countries

A Czech Republic resident company has concluded a deal on the industrial and consumer goods (ICG) platform of the Belarusian Universal Commodity Exchange (BUCE) for the first time, selling cotton fibre to a Belarusian light industry enterprise, thus, expanding the geography of foreign users of the exchange trading platform to 15 countries, sb.by reports with reference to the BUCE press service

This year, the most active bidders were those from Russia, Uzbekistan and Tajikistan. Moreover, Uzbek and Tajik companies mainly used the exchange mechanism to sell their products in Belarus, while residents of Russia used the whole range of possibilities of the BUCE trading platform, making both export-import and transit transactions.

“In total, this year, residents of seven countries concluded transactions at the ICG platform, with Russia, Uzbekistan and Tajikistan joining the top-3 in terms of the amount of exchange turnover. In particular, manufacturing enterprises from Uzbekistan and Tajikistan primarily participated in the bidding as sellers, supplying in-demand raw materials for the Belarusian textile industry. As far as Russians are concerned, they solved a wider range of tasks using the BUCE platform. For example, the import of Russian electrical equipment, industrial tools and components for machinery has already become regular in Belarus. At the same time, building materials, canned fruits and vegetables, as well as synthetic yarn and salt slag are actively exported to Russia. Special attention should be paid to the ‘transit’ direction, in which Russian participants trade with each other and with residents of third countries. The most popular commodity items involved in transit trade include furniture, lighting fittings, fabrics and spare parts for machinery and equipment,” BUCE spokesperson Roman Yaniv noted.

In January-April 2024, the amount of exchange transactions on the BUCE ICG platform totalled Br356.5m – up 75 percent compared to the same period last year. In 2024, the share of import-substituting goods in the total volume of sales of industrial and consumer goods through the BUCE exceeds 60 percent.