Baku, Azerbaijan, Dec. 28

Trend:

Azerbaijan's Public Association of Councils of Commodity Exchanges will become an official representative of the Belarusian Universal Commodity Exchange (BUCE) in Azerbaijan, BelTA quoted BUCE spokesman Roman Yaniv as saying.

The relevant agreement was signed between Chairman of the BUCE Board Arkady Salikov and adviser of Azerbaijan's Public Association of Councils of Commodity Exchanges Rauf Hajiyev.

The document is a follow-up to the memorandum of understanding signed by the parties during the working visit of Deputy Chairperson of the BUCE Board Irina Narkevich to Baku on November 30, 2017.

The agreement envisages that the official representative will help the BUCE establish and advance business contacts with Azerbaijan's government bodies, commercial entities, and other organizations. It will also encourage Azerbaijani companies to take part in or visit the auctions at the BUCE.

Azerbaijan's Public Association of Councils of Commodity Exchanges shall also advertise the opportunities and advantages of commodities trading in the Azerbaijani business community, consult Azerbaijani commercial entities on participation in the auctions, and help the BUCE arrange and hold business meetings, negotiations, seminars, and other events to promote its services and information products in Azerbaijan and the neighboring countries.

The official BUCE representative in Azerbaijan is expected to step up cooperation between the commodity exchange and Azerbaijani companies, attract new participants to the BUCE's electronic marketplace, and give a massive boost to Belarus-Azerbaijan commodities trading.