BUCE electronic tools will be used in the industrial sector of the Nizhny Novgorod region

March 15, MINSK. The agreement on the use of the electronic platform for import substitution of the Belarusian Universal Commodity Exchange by enterprises of the industrial sector of the Nizhny Novgorod region was reached following the meeting of the official delegation of this region of the Russian Federation with the leadership of the BUCE, BelTA learned from the press service of the exchange.

“Certainly, this is a very interesting and useful tool with the broadest possibilities, which we will definitely use,” said Maxim Cherkasov, Minister of Industry, Trade and Entrepreneurship of the Nizhny Novgorod Region, during a presentation of the potential of the Belarusian exchange platform.

Moreover, in his opinion, it is important to begin the practical implementation of the designated areas of cooperation in the near future. “I propose to organize the work as follows. The Import and Import Substitution Center and the Export Development Center will be tasked with filling the Belarusian platform as much as possible with applications for purchase and sale from enterprises of the Nizhny Novgorod region. This will allow our companies to check how the exchange mechanism works in real conditions, to study in detail all the nuances participation in the auction and evaluate the effectiveness of this tool. If we see that the exchange really helps to solve urgent issues of import substitution and export diversification, we will unequivocally recommend the Belarusian site to all enterprises in our region," Maxim Cherkasov said.

Alexander Osmolovsky, Chairman of the Board of BUCE, supported the proposal of the HEAD of the Russian delegation, once again emphasizing the readiness of the exchange to provide all necessary assistance to enterprises of the Nizhny Novgorod region interested in integrating exchange trading into their trading and purchasing activities.

"If necessary, the exchange's specialists can visit specific enterprises, help with accreditation and teach the basics of exchange trading. We are very mobile. However, in my opinion, our cooperation should develop in a broader manner. After all, the import substitution platform is only part of our digital ecosystem ", it does not cover the entire range of commodity items listed on the stock exchange. MILK powder , butter, oilseed meal, rolled metal products, petrochemical products - all these goods can be the subject of transactions between Nizhny Novgorod and Belarusian companies. Therefore, let's work on these areas in addition. I am sure that they will be no less in demand than, say, industrial equipment and components," the head of BUCE believes.

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

Photo by BUTB