National News

Belarus' commodity exchange to cooperate with Export Support Center of Russia's Kaliningrad Oblast

The Belarusian Universal Commodity Exchange (BUCE) and the Export Support Center of Kaliningrad Oblast of Russia will join efforts to get the region's SMEs interested in exchange trading. This matter was discussed during a joint webinar for local businesses that was arranged by BUCE and the Export Support Center of Kaliningrad Oblast, BelTA learned from the BUCE press service.

Special attention was paid to the agricultural sector, primarily manufacturers of oil and fat products and grains. In addition to discussing general issues, the participants of the webinar outlined groups of goods that could become drivers of Belarus-Kaliningrad exchange trade. According to Herman Puzyrny, Deputy Head of the BUCE Department for Foreign Economic Affairs, the most promising products include oilseed products, grain crops, building materials and wood products. “Although the main task of the Export Support Center is to promote Kaliningrad goods on foreign markets, I propose to consider a broader format of cooperation. In particular, BUCE can not only help Kaliningrad Oblast sell oilseed meal and grain to Belarus, it can also assist Kaliningrad companies and individual entrepreneurs in buying Belarusian feed additives, lumber and gas silicate blocks. This way, the structure of the exchange trade will be as balanced as possible," the BUCE representative is sure.

According to Yelena Romanova, Export Support Center Deputy Head, the use of the Belarusian exchange platform will open up additional opportunities for Kaliningrad exporters and help unlock the region's foreign trade potential.

In 2023 Belarus started delivering more goods to Kaliningrad Oblast through BUCE. In 2022 those were exclusively woodworking products, while now Kaliningrad companies also buy wheat gluten and building materials through BUCE. At the same time, the main imported items remained the same - grade D coal and anthracite.