BUCE accredited a new broker in Kazakhstan

March 17, MINSK. The Belarusian Universal Commodity Exchange has accredited a new broker in Kazakhstan to expand the trading opportunities of domestic enterprises and promote their products to foreign markets, BelTA learned from the BUCE press service.

Now there are 16 organizations from 11 countries in the network of stock brokers of BUCE. "It is expected that the arrival of a Kazakh broker on the exchange floor will increase the number of bidders from this country, and will also contribute to the growth of trade between Belarus and Kazakhstan," the press service noted.

Last year, the exchange trade turnover between Belarus and Kazakhstan amounted to about $30 million. The Kazakh market was mainly supplied with MEAT and dairy products, leather goods and SUGAR, while the most demanded goods among Belarusian buyers were coal and black metal. "With the assistance of a new non-resident broker, it is planned to intensify work to attract representatives of Kazakhstani business to the auction. The main attention will be paid to small and medium-sized enterprises, which, as a rule, do not have their own commodity distribution network, but would like to find business partners in Belarus. In addition, the possibility of concluding transit transactions is being considered, which will allow Kazakh companies to minimize the risks associated with foreign trade activities," the BUCE said.

At the same time, according to Khamza Nursultan Talgatuly, DIRECTOR of the new broker company First-KO LLP, the main task is to simplify the work of enterprises from Kazakhstan on the Belarusian market as much as possible. "Our company has significant experience in the field of import and EXPORT of goods. As a stock broker, we plan to focus on goods for which Belarus occupies a leading position in the CIS. These are, in particular, dairy products, potatoes, tires, spare parts for special equipment. I can confidently to say that the demand for these products in Kazakhstan is high, so we expect to attract the first buyers to the exchange in the near future and conclude deals for them," he said.

JSC "Belarusian Universal Commodity Exchange" was established in 2004. The first auction took place in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. The main function of the exchange is to assist Belarusian enterprises in exporting products and to help foreign companies enter the Belarusian market. The exchange sells metal, timber, agricultural products, industrial and consumer goods of a wide range.

As of March 1, 2022, 85 residents of Kazakhstan were accredited to BUCE. At the same time, a simplified procedure for accreditation and obtaining an electronic digital signature has been established for Kazakhstani companies.