Import-substituting goods to be presented on BUCE electronic platform with the first bidding planned for late May

17 мая 2022

While responding to the external sanctions pressure, the CIS and the EAEU countries step up integration cooperation and develop new elements of the common economic space, including exchange trade. This was discussed at the business forum of the International Association of the CIS countries exchanges, held in Minsk on May 17. Belarus pays great attention to the development of the commodity exchange, as such a mechanism ensures timeliness and diversification of supplies, payment discipline, protection of the internal market and fair pricing. 

Exchange mechanism promotes transparent pricing

Alexei Bogdanov, Minister of Antimonopoly Regulation and Trade of Belarus:

The exchange mechanism always contributes to a transparent price, any machinations are excluded. 28.5 thousand companies from 70 countries of the world are registered on the exchange. It enables us to promptly and quickly find new sales markets, select new clients, and diversify our supplies even in the current sanctions situation. This applies to energy, agricultural products and woodworking products. In the near future we are planning to open a branch of BUCE in China to step up our deliveries of a wide range of goods (both raw materials and processed products) to the Asian market.

Belarus launches import substitution platform

The Belarusian Universal Commodity Exchange will launch an electronic trading floor that will present goods produced under the import substitution program. The first trades in such products are expected to be held at the end of the month.  

Exchange commodity turnover will exceed $4 billion in 2021

Last year was successful for the Universal Commodity Exchange with an increase of 80%. The exchange commodity turnover exceeded $4 billion. In spite of such a high base, the first quarter of this year is also showing a plus, primarily due to sales of metal and agricultural products on the exchange platform.