BUCE introduced exchange trading opportunities to Ethiopian business circles

Photo by BUTB

July 7, MINSK . The possibilities of using the exchange mechanism to enhance mutual trade and increase trade between Belarus and Ethiopia were presented during a meeting with representatives of the Ethiopian business, held on the basis of the Belarusian Chamber of Commerce and Industry, BelTA learned from BUCE.

Alexander Bashliy, HEAD of the Department for Foreign Economic Affairs of BUCE, spoke about the key features of the exchange floor, the procedure for accreditation and participation in trading, current product lines and tools for monitoring the execution of exchange transactions. "The exchange accompanies each transaction from the submission of an application for sale or purchase to the full fulfillment of obligations by the parties, while as an additional guarantee, any trading participant can use exchange sub-accounts for settlements with a counterparty. In this case, the risk of non-payment or non-delivery of goods is minimized," - emphasized the representative of BUCE.

Alexander Bashliy also outlined promising commodity items that could be traded at BUCE within the framework of export-import transactions between Belarusian and Ethiopian companies. "If we talk about imports from Ethiopia, then first of all, these are, of course, agricultural products - coffee , soybeans and cereals. All this will be in demand in Belarus, especially since our trading platform provides direct access to the country's largest agro-industrial enterprises which, as a rule, are interested in expanding the geography of purchases.From the point of view of the EXPORT of Belarusian goods to Ethiopia, it is advisable to focus on dairy products - MILK powderand serum. We have concentrated the leading manufacturers of these products, who have experience in cooperation with African countries and are ready to work in the Ethiopian market," said the head of the foreign trade department of BUCE.

Currently, 6,370 foreign companies from 70 countries, including African states, are accredited to BUCE. Residents of Ethiopia do not yet participate in exchange trading.