UZEX launches e-platform for Belarusian companies

According to BelTa news, on December 11, an electronic trading platform of the “Uzbek Republican Commodity Exchange” (UZEX) will be launched in Belarus on the basis of Belarusian Universal Commodity Exchange (BUCE).

Organization of the activity of the trading platform UZEX is one of the key points of the action plan for the development of cooperation between the exchanges approved in September 2018.

The e-platform will become an access point to trades of the UZEX for Belarusian companies that are interested in supplying industrial and food products to Uzbekistan.

In turn, the Uzbek companies will be able to use the exchange mechanism for selling their products on the Belarusian market. In particular, the possibility of selling cotton fiber and lint, as well as dried fruit through the platform is being considered.

The Belarusian LLC “Latemgroup” has been registered as a broker on the Uzbek stock exchange. It is planned that after the launch of the trading platform, the LLC will make transactions at the UZEX in the interests of Belarusian enterprises.

The accreditation of an Uzbek company as a broker for the BUCE is underway. It will assist representatives of the Belarusian businesses who wish to enter the market of Uzbekistan using the mechanism of exchange trading.

“The opening of an e-trading platform of a foreign exchange is an unprecedented event for our country. The project is aimed at providing simplified access to bargaining entities of both countries. It will contribute to the growth of bilateral trade and further development of the Belarusian-Uzbek trade and economic relations. This includes the implementation of the agreements reached by the presidents of Belarus and Uzbekistan following the meeting in Dushanbe in September 2018”, the BUCE press secretary Roman Yaniv said.