Uzbekistan, Belarus expanding cooperation via trading platforms
BAKU, Azerbaijan, Aug. 5
By Ilkin Seyfaddini - Trend:
Uzbek Republican Commodity Exchange (UZEX) together with Belarusian Universal Commodity Exchange (BUCE) are actively cooperating on implementation of e-commerce mechanisms and online trading instruments, Trend reports with reference to the Embassy of Uzbekistan in Minsk.
The work is carried out to increase bilateral trade turnover, expand the range and export volumes of Uzbek products to the market of Belarus.
A set of joint measures to expand mutual trade between Belarusian and Uzbek contractors is being implemented in the framework of Agreement on Strategic Partnership, signed on September 12, 2018, said the embassy.
Under the agreement, the parties have carried out mutual accreditation of exchange brokers, opened the Trading Platform of the Uzbek Republican Commodity and Raw Materials Exchange in Belarus - Latamgroup LLC, through which Belarusian enterprises carry out online trading and purchasing operations with Uzbek enterprises via remote access.
As of July 1, 2020, Belarusian goods (metal products, lubricants, sugar) in the amount of $294,000 have been exported to Uzbekistan via electronic exchange trading.
The sides signed a pilot contract, under which 678 tons of sugar produced by JSC Slutsk Sugar Refinery were sold to Uzbek consumers through the trading platform of Latamgroup LLC in June 2020.
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