The head of the Foreign Economic Activity Department at the Belarusian Universal Commodity Exchange (BUCE) Alexander Bashlia recently visited Ashgabat to explore promising avenues for cooperation with Turkmen businesses, according to BUCE reports.
The BUCE aims to significantly increase trade turnover with Turkmenistan in 2024 by leveraging its exchange platform’s export potential. Lumber, dairy products, and sugar, all in high demand in the Turkmen market, are key areas of focus.
Currently, 14 Turkmen entities are accredited with the BUCE, primarily utilizing the exchange for softwood lumber purchases.
The business program included meetings with potential Turkmen timber product importers and food industry representatives interested in Belarusian skimmed milk powder and white granulated sugar.
A BUCE representative also visited the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET), which facilitates exchange trading in various sectors like petrochemicals, mechanical engineering, and agriculture. Negotiations with SCRMET management led to an agreement to exchange experience, technologies, and methodologies related to electronic exchange trading.
The possibility of mutual accreditation is also under discussion, allowing stockbrokers from both exchanges to participate in trading on each other’s platforms.///nCa, 25 March 2024