BUCE and UZEX team up

BUCE and UZEX team up to boost mutual trade

An electronic trading platform of Uzbek Commodity Exchange (UZEX) started operating at Belarusian Universal Commodity Exchange (BUCE) following a solemn unveiling ceremony held on December 11 in Minsk (Belarus).

An electronic trading platform of Uzbek Commodity Exchange (UZEX) started operating at Belarusian Universal Commodity Exchange (BUCE) following a solemn unveiling ceremony held on December 11 in Minsk (Belarus).

The goal of the joint project is to create a digital gateway linking the Belarusian and Uzbek commodity markets. Two broker companies have been set up in Belarus and Uzbekistan for this purpose. They will be the ones using the trading platform and serve as entry points for Belarusian and Uzbek traders.

This is the first time a foreign mercantile exchange opens its office in Belarus, which provides a wide window of opportunity for traders from both countries to ramp up cooperation. No transactions have been made at the new electronic platform yet. It is likely, however, that traders will primarily focus on cotton fiber, food, and consumer goods. As the trading volume grows, the list of tradable commodity items will be extended.

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