Tashkent, Uzbekistan (UzDaily.com) -- At the end of 2023, the amount of transactions of Uzbek trading participants on the Belarusian Universal Commodity Exchange (BUCE) increased 17 times, and the number of accredited companies from Uzbekistan increased to 97, which is twice as much as in 2022. This was announced by the head of the department of foreign economic activity of BUTB, Alexander Bashliy, during a meeting with representatives of the Uzbek business community, organized by the chambers of commerce and industry of the Republic of Belarus and the Republic of Uzbekistan.

Speaking with a presentation of the capabilities of the Belarusian exchange platform, Alexander Bashliy noted a significant increase in the interest of Uzbek enterprises in exchange trading, which served as one of the main drivers for the growth of such important indicators as the volume and number of transactions.

“If in 2022, 6 Uzbek companies regularly participated in exchange trading sessions, then in 2023 there were 29 of them. At the same time, the product range of mutual trade has expanded. In particular, now, in addition to lumber, residents of Uzbekistan have also begun to buy Belarusian sugar on the exchange, and as part of import transactions, Uzbek cotton yarn is supplied to Belarus, which is in demand among our light industry enterprises. Such activity on the part of Uzbek participants has a positive effect on the dynamics of exchange trade turnover, which has increased 17 times in just a year,” said the head of foreign economic activity of BUTB.

According to Alexander Bashliy, exchange brokers accredited in Uzbekistan make a significant contribution to attracting Uzbek companies to the BUCE trading platform. These are professional market participants who not only have perfect stock trading skills, but also have a good understanding of the peculiarities of doing business in both countries.

“Currently 7 stock brokers from Uzbekistan are cooperating with us. In fact, these are representatives of BUCE in this country, and their main task is to inform Uzbek trading and manufacturing companies about the advantages of the exchange mechanism and involve them in trading on our exchange. Practice shows that interaction with non-resident brokers allows you to expand the circle of trading participants abroad much faster,” emphasized Alexander Bashliy.