Seven Belarusian brokers accredited at Uzbek Commodity Exchange

Seven brokers of the Belarusian Universal Commodity Exchange (BUCE) have been accredited at the Uzbek Commodity Exchange (UzEx).

A BUCE delegation visited the UzEx central office to participate in the second joint training seminar organized as part of the strategic partnership agreement signed between UzEx and BUCE.

The Belarusian delegation included representatives of seven companies that are accredited at BUCE as brokers: OAO Belresursy – Managing Company of the Belresursy Holding Company, Belresursbrok and BirZhex brokerage firms, Beltamozhservice logistics operator, individual entrepreneur Sokol Lyubov Leontievna, OOO StatusBrock and the Center for Brokerage Services.

UzEx specialists made presentations of the UzEx trading platforms, opportunities for foreign clients. In particular, foreign companies are exempt from paying commissions when concluding foreign trade transactions. Following the workshop, Belarusian companies were awarded certificates of accreditation as brokers at UzEx.

Mutual accreditation of brokers is another important stage towards the implementation of the agreement between the exchanges, Chairman of the Board of the Uzbek Commodity Exchange Ziyeviddin Badriddinov noted. “This step will contribute towards further increasing trade between Uzbekistan and Belarus through the use of exchange mechanisms,” the head of UzEx emphasized.

Head of Foreign Relations at BUCE Aleksandr Bashliy called the event a historic milestone since the brokers of the two exchanges passed mutual accreditation for the first time. “Belarusian brokerage firms accredited today on the Uzbek exchange are ready to start practical implementation of our agreement and conclude first deals,” he said.

The following day, the Belarusian delegation visited the Jizzakh Region of Uzbekistan where they met with First Deputy Governor Abduvali Mustanov and entrepreneurs of the region. The topic of discussion was ways of increasing mutual trade using modern exchange mechanisms.

Representatives of BUCE spoke about the new opportunities created as a result of inter-exchange interaction and hailed the advantages of exchange mechanisms in concluding foreign trade transactions.

The parties agreed to continue mutually beneficial cooperation through the widespread use of exchange trading opportunities.