Belarus, Kazakhstan to strengthen trade, economic cooperation
Baku, March 5, AZERTAC
Plans are in place to enhance the role of exchange trading in the development and strengthening of trade and economic cooperation between Belarus and Kazakhstan by ensuring the widest possible use of exchange instruments by economic entities of the two countries, according to BelTA.
The matter was discussed during the Belarusian-Kazakhstani exchange seminar in Astana organized by the Belarusian Universal Commodity Exchange (BUCE) together with the Belarusian Embassy in Kazakhstan, the Ministry of Trade and Integration of Kazakhstan and Kazakhstan’s National Chamber of Entrepreneurs “Atameken”, BelTA learned from the BUCE press service.
Such measures will make it possible to scale up the economic effect of participation in exchange trading and create favorable conditions for further increase in mutual trade. The seminar highlighted this issue, and also the possibilities of closer integration of the exchange mechanism into foreign trade activities and the search for new points of growth in this area. The event was attended by over 50 representatives of Kazakhstani business interested in working on the Belarusian exchange platform. According to Chairman of the BUCE Board Aleksandr Osmolovsky, the intensification of interaction with the business community of Kazakhstan is not a spontaneous decision, but a natural process as part of the formation of a common commodity exchange market in the Eurasian Economic Union.
“Like Kazakhstan's commodity exchanges, our electronic platform is a fundamental element of the market infrastructure, which solves such important tasks as pricing, export promotion, fair distribution of raw material resources, and stimulation of competition. Therefore, close attention to exchange instruments and their use in cross-border trade is not just a tribute to fashion, but a reflection of the economic policy of the state aimed at improving the efficiency of sales and procurement activities of economic entities,” the BUCE head emphasized.
The participants of the event considered all key aspects of organizing and conducting exchange trading, learned detailed information about the procedure and conditions of accreditation at BUCE and outlined commodity positions for mutual exchange trade between Belarus and Kazakhstan. Thus, in terms of exports, the main efforts will be focused on increasing supplies of Belarusian timber, feed additives, meat and dairy products, while in terms of imports - on purchases of Kazakhstani metal products, coal, grains, meal and oilseeds for industrial processing.
Currently, 154 residents of Kazakhstan are accredited on BUCE, one of which has the status of an exchange broker. In January-February 2025, the number of transactions of Kazakhstani traders increased by 36%. Imports of Belarusian milk powder, butter, sugar, and timber dominated in the structure of exchange trade between Belarus and Kazakhstan.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry and agricultural products, industrial and consumer goods.
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