Tashkent, Uzbekistan (UzDaily.com) -- According to the results of January-August 2023, Uzbek companies entered the top five largest buyers of sawn timber on the Belarusian Universal Commodity Exchange (BUCE). 

In addition to Uzbekistan, the TOP-5 sales markets for Belarusian sawn products include such countries as China, Azerbaijan, Singapore and Russia. In total, in the current year, transactions for the purchase of woodworking products at exchange auctions were concluded by residents of 15 states.

Alexander Bashliy, head of the foreign economic activity department of BUCE, spoke about this, speaking to representatives of the Uzbek business as part of the second meeting of the Belarusian-Uzbek Business Council.

“Compared to January-August last year, the supply of domestic timber products to Uzbekistan increased by more than 8.5 times, and there are prerequisites that the high positive dynamics will continue in the future. Of course, this will be facilitated by the expansion of the circle of bidders from Uzbekistan. In particular, 18 Uzbek companies made deals on sawn timber this year, most of which came to the stock exchange during the last three to four months. In general, today the number of residents of Uzbekistan accredited on the exchange has reached 80, despite the fact that at the beginning of the year there were only 45,” Alexander Bashliy said.

In addition, according to the head of foreign economic activity of BUCE, in 2023 Belarusian-Uzbek inter-exchange cooperation has noticeably intensified. This ensures the prompt exchange of up-to-date analytical information on the exchange markets of the two countries, as well as new opportunities for involving additional commodity items in the exchange turnover.

“In the first half of this year, within the framework of the strategic partnership agreement between the Belarusian Universal Commodity Exchange and the Uzbek Republican Commodity and Raw Materials Exchange, training seminars for brokers of both exchanges were held in Minsk and Tashkent. As a result, the brokerage organizations that passed the certification received mutual access to the exchange trading platforms of Belarus and Uzbekistan. As for the practical benefits of these events, with the assistance of one of the Uzbek brokers, the first exchange deliveries of Belarusian sugar to Uzbekistan were made. That is, inter-exchange interaction is developing dynamically and brings real results,” the BUCE representative emphasized.