First broker from Pakistan accredited at BUCE

August 17, Minsk. The first exchange broker from Pakistan has been accredited at the Belarusian Universal Commodity Exchange, BelTA learned from the press service of the BUCE.

The first Pakistani broker accredited to work on the BUCE electronic platforms was AP Sakafat Forever, which has been participating in export exchange trading in sawn products since December 2021 as a trading visitor. The decision on the need to obtain a new status was dictated by the expansion of the sphere of interests in the commodity market of Belarus and, accordingly, in BUCE. In addition to the timber products section, as a broker, the company will be able to represent the interests of its compatriots at the auctions of petrochemicals (acrylic fiber), agricultural products (milk powder), industrial and consumer goods (surgical instruments, manicure and pedicure accessories) and at the import substitution site.

Alexander Osmolovsky, Chairman of the Board of BUCE, expressed gratitude to the Pakistani Embassy in Belarus for the information support, thanks to which Pakistani companies not only show interest in the activities of the exchange, but demonstrate a real intention to use exchange instruments to enhance cooperation between the two countries. This is confirmed by the fact of accreditation of a new broker, which, in fact, becomes the official representative of BUCE in Pakistan. "We will help and accompany the company at every stage of its activities in a new status. And in general, the exchange is ready to conduct any training, including on-site seminars and workshops, so that Pakistani businessmen can get answers to all their questions: from the most general information to registration specific bids for the auction," the head of BUCE assured.

The solemn ceremony of presenting the certificate of accreditation as a stock broker was held on August 16 with the participation of the Ambassador Extraordinary and Plenipotentiary of Pakistan to Belarus Sajjad Haider Khan, who first visited the stock exchange a year ago and all this time actively supports events aimed at establishing contacts with representatives of Pakistani business. The Ambassador thanked BUCE for its openness and readiness to host representatives of Pakistani business circles, even very small delegations (one of them was on the stock exchange about a month ago). services offered by the exchange.If required,

The head of the new brokerage company, President of AP Sakafat Forever Shehria Javad Rahman, noted that for them, obtaining a certificate is not just a formality, but a responsible and detailed step. “We have prepared a list of goods that can be delivered from Belarus to Pakistan and vice versa, thought through logistics issues, worked out the possibilities for seamless bank payments, in particular, we intend to actively use exchange sub-accounts. We have planned a turnover of about $150 million and will try to use all exchange instruments to achieve it," the president of the company shared his goals.

During the meeting, a presentation of the import substitution platform was also held. The Pakistani side highly appreciated the new information product of the exchange, noting that this is a unique development that opens up great prospects for Belarusian-Pakistani trade relations, especially for manufacturers of demanded goods on order. In this regard, Shehria Javad Rahman expressed his readiness to organize a seminar together with the chambers of commerce and industry of large cities of Pakistan in order to show in practice, including by his own example, how modern information technologies and progressive solutions help overcome distances and develop business contacts.