MINSK, June 30 (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) and the Kaliningrad Chamber of Commerce and Industry (CCI) of Russia will work together to promote exchange trade, particularly in agricultural products. BelTA learned from the BUCE press service that the parties agreed to unite during a visit by the BUCE delegation to Kaliningrad in order to publicize the exchange trade mechanism among companies in Kaliningrad Oblast and to win them over to BUCE.
The first event as part of the cooperation between BUCE and the Kaliningrad Chamber of Industry and Commerce was a seminar for small and medium-sized companies in Kaliningrad Oblast who want to open up new markets. During the event, BUCE spoke about its capabilities as an interregional e-commerce platform handling import, export and transit transactions.
“The trade in agricultural products is currently the most promising area of cooperation with Kaliningrad Oblast. For example, fat and oil products traditionally have a significant share in the region’s exports, and the region’s largest oil plant processing company regularly tops the ranking of flour sellers via stock exchange trading. BUCE can help Kaliningrad Oblast companies to access not only the Belarusian market but also third country markets. Foreign companies accredited by BUCE, including companies from Russia, actively use the mechanism of transit transactions, ”emphasized German Puzyrny, head of BUCE’s foreign trade department, in his address to the participants of the seminar.
Established in 2004, the Belarusian Universal Commodity Exchange held its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to help Belarusian companies export and foreign companies to enter the Belarusian market. BUCE sells a wide range of metal, forest and agricultural products, industrial and consumer goods.
The Kaliningrad Chamber of Commerce and Industry is the largest trade association in Russia’s Kaliningrad Oblast. It includes more than 590 organizations and entrepreneurs operating in the region. The Chamber of Industry and Commerce promotes the development of the region’s economy, its diversification and integration into the world economic system, as well as the creation of a favorable business environment and conditions for the development of all types of business activities.