Chambers of Commerce of Belarus and India cooperate in foreign exchange trade

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MINSK, Sept. 20 (BelTA) — The Belarusian Universal Commodity Exchange (BUCE) and the New Delhi-headquartered Inventivepreneur Chamber of Commerce and Industry (ICCI) plan to join forces to bring Indian companies on the Belarusian Commodity Exchange. Such an agreement was reached following the visit of the CICI delegation led by the President of the CICI, Dr. Ritika Yadav, to the central office of the BUCE, BelTA learned from the press service of the BUCE.

The Indian delegation believes that the use of the commodity exchange platform will not only help boost trade between Belarus and India, but also create favorable conditions for closer cooperation in related fields.

ICCI has over 10,000 members across India. These are mainly small and medium enterprises operating in various industries and in agriculture. They use ICCI services such as market analysis, assistance in attracting investments, professional development courses, finding business partners in India and abroad. “Yet our main task is to help companies expand their business, which usually means entering the markets of other countries, including Belarus. Given the low risks, wide range of products and direct access to major Belarusian companies, I think the exchange is an excellent springboard for starting operations in your country, for our part we will try to bring companies from India and possibly neighboring countries to your platform noted Dr. Ritika Yadav.

First Deputy Chairman of the Board of Directors of the Universal Commodity Exchange of Belarus, Eduard Belsky, said he is ready to collaborate with the ICIC in all areas, provided that such interaction helps to increase trade between Belarus and India.

“I would like our cooperation to be exclusively practical, I think you are also interested in this. Therefore, I suggest starting from specific commodities that are in demand in Belarus and India and jointly bringing sellers and buyers from both countries on the trading platform. For example, we know that Belarusian acrylic fiber and other petrochemical industry products are in high demand in India, because these products are regularly traded through our platform. Dairy, light industry products are also very promising.Our main task is to convey this information to as many Indian companies as possible, and in this we count on your support”, underlined Eduard Belsky.

Founded in 2004, the Belarusian Universal Commodity Exchange held its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to help Belarusian companies to export and foreign companies to enter the Belarusian market. BUCE sells a wide range of metal, forestry and agricultural products, industrial and consumer goods.

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