Tashkent, Uzbekistan (UzDaily.com) -- The first transaction for the sale of sugar to Uzbekistan was registered at the Belarusian Universal Commodity Exchange (BUCE). The seller was one of the Belarusian sugar factories, and the buyer was a brokerage company accredited by the BUCE and the Uzbekistan Commodity Exchange (UzEX).

The volume of the pilot purchase amounted to 134 tons. Thus, not only was the exchange-based supply of sugar to the Uzbek market launched, but the first practical result of the joint project of BUCE and UZEX on mutual accreditation of brokers was obtained.

“This is a truly significant event, which once again demonstrated the ability of the exchange platform to diversify the export of domestic products, and also confirmed the correctness of the strategic direction of cooperation chosen by the Belarusian and Uzbek exchanges. So far, only one of the seven Uzbek brokers accredited on our trading platform in February of this year has become really active in the work. However, we hope that the first sugar deal will serve as a good incentive for other brokerage firms. At the same time, sugar is only one of a number of promising commodity items that can provide a significant increase in the exchange trade turnover between Belarus and Uzbekistan. Lumber, dairy products, meat products, chemical and petrochemical products, machinery and equipment - all these highly liquid goods are widely represented at exchange auctions, and their trade is beneficial for enterprises of both countries,” the BUCE press service noted.

Currently, 56 stock brokers are accredited to BUCE, including 21 non-residents from Israel, China, Latvia, Pakistan, Russia, Turkey and Uzbekistan. The total amount of transactions made by brokers in January-April 2023 reached 1.7 trillion soums, or about 13% of BUCE’s total turnover for this period.