BUCE and the Export Support Center of the Krasnodar Territory signed a cooperation agreement

Photo by BUTB

June 9, MINSK . The Belarusian Universal Commodity Exchange and the EXPORT Support Center of the Krasnodar Territory of the Russian Federation intend to consolidate efforts to develop exchange trade in order to increase trade and enhance bilateral trade and economic cooperation. This is stated in the cooperation agreement concluded between the BUCE and the CPE of the Krasnodar Territory, BelTA was told in the press service of the exchange.

According to the document, the parties plan to achieve their goal by attracting export-oriented enterprises of the region to the stock exchange, including through joint information and practical events aimed at small and medium-sized businesses .

According to the BUCE press service, the first step in this direction has already been taken: the central office of the exchange was visited by a delegation of Kuban business circles interested in working on the Belarusian market. The main topic of the negotiations was the use of the exchange mechanism for the sale of products of the agro-industrial complex of the Krasnodar Territory to Belarus .

“Compared to January-May last year, the amount of exchange transactions made by Krasnodar companies has almost doubled. Moreover, the very structure of exchange trade turnover has become more diversified. The region is supplied with domestic dairy products, woodworking products and building materials. Importantly, there are also import deals," the BUCE noted. In particular, trial batches of Kuban wheat and sunflower seeds were sold at exchange auctions in April this year.

In the future, it is planned to pay more attention to the agro-industrial complex segment and attract agricultural enterprises from the Krasnodar Territory to the exchange, primarily producers of grain, meal and oilseeds. "In this matter, we are counting on assistance from the regional export support center," the press service stressed.

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.

Currently, 3,257 residents of the Russian Federation are accredited to BUCE, including 45 from the Krasnodar Territory. It is assumed that the next stage of cooperation between the exchange and the regional export support center will be its accreditation as an exchange broker. A preliminary agreement on this matter with the leadership of the Center has already been reached.