Belarus and Turkmenistan are considering the possibility of mutual accreditation of stock brokers
During 2024, the Belarusian Universal Commodity Exchange plans to significantly increase trade turnover with Turkmenistan by realizing the export potential of the exchange platform.
In particular, the focus is on items in demand on the Turkmen market such as lumber, dairy products and sugar, BUCE reported.
Currently, 14 residents of Turkmenistan are accredited on the exchange, who use the exchange mechanism primarily to purchase softwood lumber. Therefore, in order to expand the pool of buyers of these products, as well as to develop other promising areas of interaction with the business circles of Turkmenistan, the head of the BUTB Foreign Economic Affairs Department, Alexander Bashlia, visited Ashgabat.
As part of the business program of the visit, organized by the Minsk branch of the Belarusian Chamber of Commerce and Industry together with the Embassy of the Republic of Belarus in Turkmenistan, a number of meetings were held with potential importers of timber products and food industry enterprises of Turkmenistan interested in purchasing at BUCE of skimmed milk powder and granulated white sugar of Belarusian production.
In addition, the BUCE representative visited the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET), on the basis of which sessional exchange trading in products of petrochemicals, mechanical engineering, agriculture, light industry and the construction industry is organized. Based on the results of negotiations with the management of the State Trading Company, there was reached an agreement on the exchange of experience, technologies and methodological developments in the field of electronic exchange trading. The possibility of mutual accreditation of stock brokers of BUCE and SCRMET for participation in trading on both platforms is also being considered. This format of inter-exchange interaction was successfully tested at the Uzbek Republican Commodity and Raw Materials Exchange and proved its effectiveness.
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 assist foreign companies in entering the Belarusian market. The exchange sells a wide range of metal, timber, agricultural products, industrial and consumer goods.
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