Home Commodities Venezuela interested in selling agricultural products via Belarusian Universal Commodity Exchange

Venezuela interested in selling agricultural products via Belarusian Universal Commodity Exchange

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Photo courtesy of the Belarusian Universal Commodity Exchange

Photo courtesy of the Belarusian Universal Commodity Exchange

Photo courtesy of the Belarusian Universal Commodity Exchange



MINSK, 9 June (BelTA) – Ambassador Extraordinary and Plenipotentiary of Venezuela to Belarus Franklin Ramirez Araque expressed interest in organizing deliveries of agricultural products to the Belarusian market via the Belarusian Universal Commodity Exchange (BUCE) as he visited BUCE’s central office as part of a delegation of heads and personnel of foreign diplomatic missions, BelTA has learned.

Franklin Ramirez Araque said: “A broad choice of tropical fruits is grown in Venezuela and exported to many countries in significant amounts. A major supplier of these products has recently contacted us with a request to help it penetrate the Belarusian market. Since about 23,000 Belarusian companies already use the exchange, I believe we will be able to find potential buyers here and establish regular deliveries as soon as possible. Naturally it is only the first step. In the future I suggest considering the possibility of exchange trade in other agricultural products between Venezuela and Belarus. I count on the Belarusian Universal Commodity Exchange’s support and assistance in this regard.”

Photo courtesy of the Belarusian Universal Commodity Exchange

Photo courtesy of the Belarusian Universal Commodity Exchange

Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Aleksandr Osmolovsky backed the Venezuelan diplomat’s proposal. He noted the exchange had successful experience of selling fruits and vegetables and food as a whole.

Aleksandr Osmolovsky went on saying: “Since the end of last year we’ve been holding regular trade sessions for selling Belarusian fruits and vegetables. For private farmers and state-run agricultural enterprises it represents an additional channel of sales and direct access to the largest retail chains. I am convinced that Venezuelan producers will be able to use our platform in order to expand target markets and minimize marketing costs. In addition to Belarusian companies we’ve accredited nearly 6,000 foreign traders. This is why we will secure a pool of solvent buyers in any case.”

Photo courtesy of the Belarusian Universal Commodity Exchange

Photo courtesy of the Belarusian Universal Commodity Exchange

The meeting with foreign diplomats also touched upon prospects of cooperation in import substitution. In particular, an agreement was reached on joint work to inform business circles and attract companies from Russia, Kyrgyzstan, Vietnam, Palestine, and Venezuela to the import substitution platform of the Belarusian Universal Commodity Exchange.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

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