BAKU, Azerbaijan, Apr. 21
By Klavdiya Romakayeva - Trend:
Transactions worth almost 18 trillion soums ($1.7 billion) were concluded at the Uzbek Republican Commodity Exchange (UZEX) for 1Q2021, which is 47.5 percent more than in the same period last year, Trend reports referring to the press service of the UZEX.
At the same time, 89.2 percent of the concluded transactions fell on exchange trading, and the rest - on the share of e-commerce, including exhibition and fair trade, electronic government procurement, online auctions for the sale of license plates and mobile numbers.
Also, the volume of transactions concluded on the exchange with the participation of business entities increased by 34.6 percent compared to the first quarter of 2020 and amounted to 6.6 trillion soums ($627 million).
In addition, during the period under review, the total volume of transactions in electronic public procurement amounted to 1.4 trillion soums ($133 million) with an increase of 74.7 percent. Saving funds of budgetary and corporate customers also increased by 54.2 percent and amounted to 276.7 billion soums ($26 million).
According to the UZEX, this year, it is also expected to increase the volume of supply in the exchange segments for cement, cotton seeds, cottonseed oil and processed seed waste due to additional production volumes of private enterprises, which will serve to stabilize exchange prices in these markets.
Thus, from September 1 of this year, services for the carriage of goods by road, sold at exchange auctions, are provided by monopolistic organizations and organizations with state participation exclusively through the e-logistics trade portal through an auction.
Currently, the exchange, together with logistics companies, is working to improve the electronic trading system of this portal.
The full launch of the portal will create a competitive environment in the market for freight carriers and ensure transparency in this area. Buyers will be able to optimize their costs through an auction to lower the starting price. The creation of an electronic queue of buyers will eliminate the problems associated with untimely shipment of goods purchased at exchange auctions.
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