Belarus, Russia's Bashkortostan to strengthen cooperation in exchange trade
10:00, 6 June
Photo: BUCE
Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Aleksandr Osmolovsky met with Deputy Prime Minister, Agriculture Minister of the Republic of Bashkortostan (Russia) Ilshat Fazrakhmanov. Following the meeting, the parties agreed to enhance the participation of Bashkortostan’s producers in electronic exchange trading in Belarus, the BUCE press service told BelTA.
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Special attention will be given to selling agricultural products in demand in the Belarusian market. A list of such goods will be formed based on purchase requests submitted by Belarusian enterprises in the BUCE trading system. These include plant protection products, oilseed meal, compound feed, and other agricultural sector products.
"We are ready to facilitate the entry of Bashkortostan agricultural enterprises into the Belarusian exchange, but first we need to ensure the effectiveness of this mechanism, make initial transactions, and evaluate the benefits of exchange trading. A quick result in at least one direction is crucial so that it can be expanded to other product groups. This is why I believe we should start working right away," Ilshat Fazrakhmanov emphasized during discussions on the opportunities the Belarusian exchange platform provides for foreign companies.
Aleksandr Osmolovsky has backed Bashkortostan’s proposal for practical implementation of outlined areas of cooperation, expressing confidence that the broader use of exchange instruments will give a significant boost to trade between Belarus and Bashkortostan. In the long term, this could lead to higher mutual trade.
"Through the exchange, Bashkortostan exporters will gain access to all major buyers of agro-industrial products in Belarus. We will provide consultations on technical and legal matters, help gather a pool of buyers for specific sales requests, and oversee the execution of each transaction. This direct engagement with market participants is one of BUCE's key advantages compared to similar trading platforms abroad," the BUCE chairman stressed.
As of 4 June 2025, BUCE accredited 29 business entities from Bashkortostan. In January-May 2025, the total volume of exchange deals made by companies from this Russian region tripled year-on-year. Bashkortostan participants primarily purchased lumber and meat products on BUCE. No export transactions to Belarusian enterprises have been registered so far this year.
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.
