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Belarusian commodity exchange, Great Stone to team up to promote Belarus-China trade

02 December 2020

MINSK - The Belarusian Universal Commodity Exchange (BUCE) and the Industrial Park Development Company are planning to team up to promote trade and economic relations between Belarus and China, BelTA learned from the BUCE press service.

Participation of resident-companies of the Great Stone park in the exchange trades is being considered. So is the attraction of Chinese companies interested in entering the market of Belarus and neighboring states. “As for export, the most promising positions are domestic timber and dairy products. These products are in consistently high demand in China, and all Belarus' major manufacturers have been accredited on the stock exchange. They are prepared to offer Chinese partners competitive prices and convenient logistics. We would like to attract Chinese suppliers of amino acids and other feed additives to the BUCE platform. This will help Belarusian agricultural enterprises save significantly on purchases,” First Deputy Chairman of the BUCE Board Andrei Novikov noted.

First Deputy Director General of Industrial Park Development Company Kirill Koroteyev emphasized the readiness to support the BUCE in expanding cooperation with the Chinese business. “We regularly welcome delegations from China that represent a wide range of business areas: from woodworking and construction to light industry and food production. Last year, more than 400 such delegations visited the Great Stone Park. I am sure that it would be interesting for many Chinese businessmen to learn more about the possibilities of the exchange platform. We are ready to recommend participation in exchange trading as one of the most efficient forms of work in the Belarusian market,” he said.

The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with exporting products and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.

The China-Belarus industrial park Great Stone is a special economic zone with a special legal regime. The park is located 25km away from Minsk. The Great Stone have resident companies from 14 countries. Priority areas for the park are mechanical engineering, electronics and telecommunications, biotechnology, pharmaceuticals, new materials, logistics, e-commerce, storage and processing of large volumes of data.

BelTA

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