The Belarusian Universal Commodity Exchange (BUCE) is focused on expanding trade volumes with Turkmenistan, stated Alexander Bashliy, Head of the Department of Foreign Economic Activity of BUCE, as reported by Trend on Monday.
Bashliy expressed the intention to enhance exchange operations between Belarus and Turkmenistan through the organization of seminars, webinars, and conferences.
Collaboration has already been established with the Chamber of Commerce and Industry of Turkmenistan, which is prepared to assist in informing businessmen about the advantages of the exchange mechanism, noted Bashliy.
A representative of the exchange highlighted that the accreditation of an exchange broker in Turkmenistan is currently under consideration. This broker would act as an intermediary between the Belarusian exchange and local companies, helping them participate in trading, conduct transaction settlements, and facilitate logistics.
According to the Head of the Department of Foreign Economic Activity of BUCE, the key objective is to increase exports from Belarus by expanding the client base in Turkmenistan and ensuring supply stability.
BUCE is the only commodity exchange in the Republic of Belarus and the largest spot exchange in Eastern Europe, where all transactions are concluded with payment and physical delivery of goods.
In late March, a delegation from the Department of External Relations of the Belarusian Universal Commodity Exchange visited Ashgabat and announced plans to increase trade with Turkmenistan this year by utilizing the exchange's export potential, primarily characterized by shipments of timber, dairy products, and sugar.
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