Nature
Kyrgyzstan expands exchange trade with Belarus
Kyrgyzstan has expanded the commodity list of exchange trade with Belarus, BelTA learned from the press service of the Belarusian Universal Commodity Exchange (BUCE).
The first deal on the sale of textile raw materials was concluded by a resident of Kyrgyzstan on the BUCE. Imports of these products from Kyrgyzstan did not go through the exchange platform before. The counterparty in the transaction was one of the largest domestic light industry enterprises, and the subject of the purchase was unprocessed fabric from cotton fiber.
According to the BUCE, the commodity list of exchange trade between Kyrgyzstan and Belarus has been actively expanding since 2024. In 2022-2023 the basis of mutual trade was the Belarusian sugar and timber supplied to the market of Kyrgyzstan. This year’s deals have also included a number of dairy products, the share of which in value terms has already reached about 80%.
“Kyrgyzstan, as well as other member states of the Eurasian Economic Union, is among the priority markets for the development of exchange trade. Currently, 30 Kyrgyz economic entities are accredited at the BUCE, and the number of transactions made by them has increased almost 2.5 times compared to January-September 2023. Export sales of Belarusian butter, skimmed milk powder and rennet cheese made the biggest contribution to the increase in the exchange trade with this Central Asian country. Purchases of sugar for Kyrgyzstan's food industry continued. Import of unprocessed cotton is a new promising area of cooperation, which has given Belarusian textile manufacturers an additional opportunity to purchase the raw materials they need. Along with Kyrgyzstan, similar cooperation has been established with suppliers of cotton yarn from Tajikistan and Uzbekistan,” the BUCE press service said.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry and agricultural products, industrial and consumer goods.
In January-September 2024, the amount of exchange contracts concluded by residents of the EAEU member states (except for Belarus) reached $755 million, up 3.7 times year-on-year.
