BUTB to cooperate with the Association of Chinese Compatriots Organizations

Photo by BUCE February 7, Minsk . The Belarusian Universal Commodity Exchange will cooperate with the Association of Organizations of Chinese Compatriots "Huaqiao", BELTA learned from the press service of BUCE.

The Association of Organizations of Chinese Compatriots "Huaqiao" plans to assist BUCE in expanding the range of participants in exchange trading from China , as well as, in accordance with its competence, inform Chinese businesses about the opportunities and advantages of the exchange platform. BUCE, in turn, is ready to take on the entire range of issues related to the organization and support of export-import activities of residents of the PRC in Belarus, including consulting, marketing support, finding business partners, training in the basics of exchange trading and assistance in concluding transactions. This was agreed upon by the Chairman of the Huaqiao Association Wang Xiaomeng and the Chairman of the Board of BUCE Alexander Osmolovsky following a meeting held in the central office of the commodity exchange in Minsk.

"We are regularly approached by Chinese companies that would like to buy goods in Belarus or, conversely, supply products manufactured in China to the Belarusian market. However, given the wide range of areas included in the scope of our association's activities, we do not always have enough time and resources to process such requests efficiently. Therefore, we will now redirect them to the exchange and recommend that Chinese entrepreneurs be accredited to participate in trades. It seems to me that by cooperating in this format, we will not only be able to strengthen business contacts between Belarusian and Chinese enterprises, but will also contribute to the growth of mutual trade between our countries," noted Wang Xiaomeng.

Chairman of the Board of BUCE Alexander Osmolovsky emphasized the exceptional importance of the Chinese market in the context of the development of cross-border exchange trade and expressed readiness to provide representatives of the Chinese business community with all the necessary tools for doing business in Belarus.

"The exchange represents producers of all Belarusian goods in demand in China. These include enterprises of the forestry complex, milk processors, meat processing plants, and oil extraction plants. Thus, it is possible to start importing the same dry milk , semi-finished meat products or rapeseed oil from Belarus as quickly as possible. At the same time , the price formation mechanism itself is absolutely transparent, and proper fulfillment of obligations under transactions is strictly controlled. In addition, we have additional risk insurance tools, such as settlements through exchange accounts. They are available to any foreign company accredited on our trading platform," said the head of BUCE.

The Association of Organizations of Chinese Compatriots "Huaqiao" is a non-profit organization established under the leadership of the Embassy of the PRC in Belarus. The members of the association are citizens of China permanently residing in Belarus, as well as legal entities with Chinese capital.

JSC "Belarusian Universal Commodity Exchange" was established in 2004. The first trades took place in June 2005. The Belarusian Universal Commodity Exchange is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises in exporting products and to assist foreign companies in entering the Belarusian market. The exchange sells metal, timber, agricultural products , industrial and consumer goods of a wide range.