The first transit transaction for the sale of lumber was made at BUCE

March 10, MINSK. The first transit transaction for the sale of lumber was made at the Belarusian Universal Commodity Exchange, BUCE press secretary Roman Yaniv told a BelTA correspondent.

The counterparties were a trading company from Lithuania and a lumber manufacturer from the Bryansk region of RUSSIA. The goods were sold on FCA terms with shipment from the shipper's warehouse in the Bryansk region. According to Roman Yaniv, transit transactions made by two non-resident companies of Belarus testify to the growth of confidence in the Belarusian stock exchange on the part of foreign business and contribute to the development of cross-border exchange trading.

"The use of BUCE as a platform for making transit transactions is a promising trend that has been emerging for some time. It's just now becoming widespread, spreading to new markets and new groups of goods. For example, at the end of last year, the first transit transactions for MILK powder, and this year - for rapeseed oil and lumber. The geography of participants in transit transactions has also expanded. Now residents of Russia, Estonia, Lithuania and Latvia regularly use this mechanism," the spokesman said.

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.