A delegation from the Belarusian Universal Commodity Exchange attended the Belarus-Egypt Business Forum on the development of cross-border exchange trade in Cairo, BelTA learned from the BUCE press service.
The event, organized with the support of the Federation of Egyptian Chambers of Commerce and the Embassy of Belarus in Egypt, brought together approximately 30 representatives of the Egyptian business community. As a result of the forum, promising growth areas for importing and exporting goods through the Belarusian exchange platform were identified. Thus, Belarus plans to supply dairy products, feed additives, flax fiber, and lumber to the Egyptian market. In turn, Egypt is prepared to export fruit purees, juice concentrates, polymer products, and agricultural seeds to Belarus.
Negotiations with producers and consumers of these goods were conducted both during the forum and on the sidelines of the 37th International Agricultural Exhibition Sahara held in Cairo from 14 to 16 September. In particular, producers of polymer film, packaging, and legume seeds who participated in the Sahara exhibition expressed their intention to list their products for trading on the BUCE. Meanwhile, two major Egyptian food importers showed interest in purchasing dry milk, whey, and cream through the exchange.
The Embassy of Belarus in Egypt will assist the BUCE in raising the awareness of the Egyptian business circles about the possibilities of using exchange instruments, including through online and offline seminars. Belarusian Ambassador Yevgeny Sobolevsky confirmed this during a meeting with the BUCE delegation. The parties also agreed to regularly exchange analytical data on the Belarusian and Egyptian markets and to coordinate efforts to promote the export of products manufactured in Belarus.
Furthermore, a promising avenue for cooperation between the BUCE and the Federation of Egyptian Chambers of Commerce were outlined. Use will be made of the federation’s extensive network of business contacts to attract Egyptian small and medium-sized enterprises to the Belarusian electronic trading platform and facilitate their verification. The federation will tout the BUCE as a single gateway to the commodity market of Belarus and the Eurasian Economic Union.
The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004, with its first trading session conducted in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.
