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Exchange Trade Between Belarusian, Armenian Business To Rise

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  • Exchange Trade Between Belarusian, Armenian Business To Rise

    EXCHANGE TRADE BETWEEN BELARUSIAN, ARMENIAN BUSINESS TO RISE

    Belarusian Telegraph Agency, Belarus
    Oct 31 2013

    30.10.2013 19:40

    MINSK, 30 October (BelTA) - Belarusian and Armenian businessmen
    intend to step up trade and economic cooperation through the wider
    use of exchange instruments. The matter was discussed at the first
    international forum of the Interexchange Electronic Union in Yerevan,
    Armenia on 28-30 October, representatives of OAO Belarusian Universal
    Commodity Exchange (BUCE) told BelTA.

    The Belarusian Universal Commodity Exchange and the Yerevan Commodity
    and Raw Material Exchange were the ones to organize the forum.

    Representatives of Ukraine and Kazakhstan, which are also part of
    the Interexchange Electronic Union, took part in the forum as well.

    The exchange institutions of Belarus and Armenia are only making the
    first steps in establishing mutual exchange trade. In particular,
    Belarus intends to cooperate with Armenia in exporting forest and
    timber products via exchange trade. The forum focused on the export
    and import of commodities using exchange trade mechanisms in addition
    to government purchases via digital auctions and the promotion of
    interexchange cooperation.

    Ambassador Extraordinary and Plenipotentiary of Belarus to Armenia
    Stepan Sukhorenko remarked during the forum that the promotion
    of interexchange cooperation will contribute to better quality
    and quantity parameters of Belarusian-Armenian trade and economic
    relations.

    Many participants of the forum praised the key role of the Belarusian
    Universal Commodity Exchange in establishing contacts between business
    circles of several partnering states. In view of that Director General
    of the Minsk branch of the Belarusian Chamber of Commerce and Industry
    Alexander Fedorchuk stated that digital exchange is an important
    tool for optimizing the processes involved in executing foreign trade
    contracts. They preclude many technical barriers that can impede trade.

    A business matchmaking session involving representatives of the
    Belarusian Chamber of Commerce and Industry as well as businessmen
    from Armenia, Kazakhstan, and Ukraine took place. Arrangements were
    made that will become the foundation for vigorous cooperation between
    the sides on mutually beneficial terms, noted the BUCE representatives.

    The Interexchange Electronic Union was created in November 2010 by
    the exchange institutions of Belarus, Armenia, Kazakhstan, and Ukraine.

    Russia participates in the organization as an observer. The Union
    is meant to assist international trade between companies in the
    Commonwealth of Independent States and to increase export and import
    contracts. Cooperation between participants of the Union is performed
    via the common digital field International Trade, which reflects
    information about commodities available for sale in an interactive way.

    OAO Belarusian Universal Commodity Exchange was established in line
    with Council of Ministers resolution No. 1719 of 30 December 2003.

    BUCE facilitates trade in metal products, forestry products,
    agricultural products, industrial and consumer goods, and futures. The
    exchange trade system unites over 12,300 participants from 56
    countries, including 2,600 non-residents.

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