Belarus, Russia's Dagestan to enhance exchange trade
09:00, 20 March
Photo: the Belarusian Universal Commodity Exchange
During an online meeting representatives of the Belarusian Universal Commodity Exchange (BUCE) and the leadership of the Export Support Center (ESC) of Dagestan, Russia outlined promising areas to develop exchange trading, including utilizing the exchange platform to increase the supply of Dagestan’s goods to Belarus, the BUCE press service told BelTA.
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"We analyzed the Belarusian market, considering Dagestan's export potential, and identified four groups of goods that we believe are reasonable to supply to your country, including through the exchange platform," Director of the ESC Ruslan Abaskuliev noted. "These products are already being imported to Belarus in relatively small quantities, and there is undoubtedly demand for them. Through the exchange, we hope to find new trading partners and boost sales."
The meeting focused on using exchange trading to scale up the supply of products such as rice, wool, feed additives and equipment for the dairy industry to the Belarusian market. According to Ruslan Abaskuliev, the ESC is ready to assist Dagestani producers of these products, primarily small and medium-sized businesses, in obtaining accreditation at BUCE.
A Belarusian business delegation is expected to visit Dagestan to achieve this goal. An exchange seminar is set to be held as part of the visit program. It will allow Dagestani entrepreneurs to become familiar with BUCE's opportunities, get answers to their questions and start utilizing exchange instruments in their work.
According to BUCE, currently the main product sold through the exchange to Dagestan is butter. Last year, the total transaction value amounted to $1.6 million. In January-February 2025 it reached $700,000. Moreover, a major Belarusian textile enterprise has concluded the first exchange contracts to import sheep wool from Dagestan this year.
