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Uzbek Commodity Exchange reveals date to open platform in Minsk

Business Materials 3 December 2018 10:52 (UTC +04:00)

Baku, Azerbaijan, Dec. 3

By Fikret Dolukhanov – Trend:

A trading platform of the Uzbek Commodity Exchange (UZEX) will be opened in Belarus on the basis of the Belarusian Universal Commodity Exchange (BUCE) in the first decade of December 2018, the press service of the UZEX said.

The statement was made following the meeting between representatives of the UZEX and the BUCE.

Currently, as a pilot project, accreditation of BUCE’s broker, Latemgroup, has been completed on UZEX, and the accreditation of UZEX’s broker, Global Trade Group, has been completed on BUCE.

The opening of an electronic trading platform in Minsk will serve the development of:

- trade and economic relations between countries in the organization of wholesale trade in agricultural, textile and other Uzbek products in demand on the Belarusian market;

- systematization of participation of commodity producers of Belarus in the Uzbek market, including the exchange and exhibition and fair trades of the UZEX, as well as in the system of state and corporate procurement;

- stimulation of business activities through exchange trading and a number of other issues.

UZEX and BUCE signed a cooperation agreement back at the end of May 2018

At the Nov. 19-23 trade week at the UZEX, transactions worth 749.7 billion soums were carried out, which is 11.3 percent more compared to the week before (845.2 billion soums.

(8299.20 UZS = 1 USD on Dec. 3)

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