BUCE sees export development as its strategic priority
BUCE Chairman of the Board Aleksandr Osmolovsky made this statement during a meeting with a delegation of the European Bank for Reconstruction and Development (EBRD).
“BUCE’s development strategy reflects our country's economic policy. This is why in the next few years we intend to pay close attention to increasing the volume of export via the exchange and to diversifying target markets for Belarusian products, first of all, by inviting new trade participants from countries of the European Union, Asia, and Africa. Today BUCE offers key export commodities such as sawn timber, dairy products, and construction materials. There is strong demand for these products abroad. So, I believe that exports will drive the growth of the Belarusian commodity market in the foreseeable future,” BUCE CEO underscored.
Apart from legislation and prospects of development of exchange-facilitated trade, EBRD representatives were interested in how prices are set in the course of trade sessions, possible options for hedging risks, and ways to make sure commitments stipulated by exchange contracts are honored. The sides also discussed BUCE's role in the government procurement system in Belarus, how non-resident companies participate in procurement procedures, and functional peculiarities of the digital trade platforms BUCE has developed.
BUCE and EBRD also agreed to advance their cooperation, including the implementation of joint projects.