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Mongolia|economy|May 23, 2024 / 09:06 AM
Commodity exchanges of Mongolia and Belarus to develop trade in agricultural products

AKIPRESS.COM - The Belarusian Universal Commodity Exchange (BUCE) and the Mongolian Commodity Exchange (MCE) plan to develop exchange trade in agricultural products. This topic was discussed during an online meeting between representatives of BUCE and MCE, BelTA reported.

By pooling resources, technologies and experience, the two exchange platforms will give a new impetus to trade and economic cooperation between Belarus and Mongolia. Main focus will be attached to products of the agricultural industry. According to the parties, the most promising items for Mongolia are sugar and dairy products and wool and cashmere for Belarus based on the nomenclature of goods currently presented on the Belarusian and Mongolian exchanges.

"The exchange of experience, analytical information and technological developments will make our exchange platforms more efficient and joint work to involve enterprises of the two countries in exchange trade will boost mutual trade," Head of Foreign Economic Relations at BUCE Aleksandr Bashliy noted.

The parties agreed on a visit of a MCE delegation to the BUCE central office this June to get acquainted with the exchange trading and to develop a plan of joint actions within the framework of the designated areas of cooperation.

To date, three residents of Mongolia have been accredited at BUCE, one of whom has the status of a broker. The amount of exchange transactions made by Mongolian companies has amounted to almost $2.5 million since the beginning of 2024, with more than 90% accounting for Belarusian sugar.

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