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Uzbek commodity exchange opens trading platform in Latvia

Finance Materials 14 June 2021 11:42 (UTC +04:00)
Uzbek commodity exchange opens trading platform in Latvia

BAKU, Azerbaijan, June 14

By Klavdiya Romakayeva - Trend:

Uzbek republican commodity and raw materials exchange (UZEX) has opened a trading platform in Riga, Latvia, Trend reports referring to the press service of UZEX.

According to UZEX, the founder of the new foreign trading platform of the exchange was the Latvian Shipleart LLC (AP Holding).

With the launch of a new trading platform, it becomes possible to freely import grain, sugar, vegetable oils and other products, as well as export oil products, ferrous metals, chemical products, electrical machinery and equipment through the exchange's electronic trading systems.

At the same time, foreign companies will be able to directly enter the commodity markets of Uzbekistan using the possibilities of the market mechanism of exchange trading and e-commerce.

“This electronic trading system has such advantages as a unified customer service mechanism, transparency of trade and mutual settlements, direct access to reliable manufacturers, saving time and money, as well as a guarantee of payment and delivery of goods,” the message said.

In turn, local producers and entrepreneurs will also be able to use the exchange and marketing services of foreign trading platforms of the exchange to effectively promote their goods to foreign markets.

The international trading network of the Uzbek Republican Commodity Exchange covers the trading offices of the exchange located in Belarus, Kazakhstan, Kyrgyzstan, Russia, China, Tajikistan and Ukraine.

Thus, at present, the international trade network of the Uzbek Republican Commodity and Raw Materials Exchange JSC has 15 foreign trading platforms.

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Follow the author on Twitter: @romakayeva

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