Uzbekistan and Belarus are in the process of expanding exchange trade

Ambassador of Uzbekistan Rakhmatulla Nazarov met with the Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Alexander Osmolovsky, the correspondent of ‘Dunyo’ news agency reports.

During the talks, issues of expanding cooperation between the two state exchange complexes and trade practices with the participation of enterprises specializing in various fields were discussed.

It was noted that, according to the current status, 188 residents of Uzbekistan have been accredited at BUCE, over the past 3 years this figure has tripled. The total sales volume in 2024 amounted to 54.8 million US dollars, while in 2023 it was 18 million US dollars.

Also, from January to February of this year, mutually beneficial trade agreements worth 15.8 million US dollars were signed with the participation of residents of Uzbekistan.

Alexander Osmolovsky highly appreciated the current state of cooperation with Uzbekistan. He emphasized that work with Uzbek partners is faster and without bureaucratic obstacles, compared to traditional partners. At the same time, there are ample opportunities for further development of cooperation, he mentioned.

The parties agreed that in order to further increase trade volumes between the two countries, it is necessary to use stock market instruments more widely. The head of BUCE said that he is ready to provide comprehensive support to Uzbek enterprises wishing to enter the Belarusian market. He also noted that the BUCE platform was created for trade in import-substituting goods, and that with the help of this electronic trading platform, Uzbek manufacturers have an additional opportunity to supply their products to Belarusian companies.

In addition, according to the BUCE representative, there is an opportunity to make offers on other goods that can be imported to Belarus, not limited to the listed commodity items. If the logistics issue is coordinated, it will be possible to increase the volume of exports from Uzbekistan.

It was proposed to hold presentations for Uzbek business entities regarding the capabilities of BUCE and the platform for import-substituting goods. The Belarusian side has announced its readiness to hold an online seminar on the process of participation in exchange trading for large manufacturing and potential exporting companies in our country.