PRESS ABOUT THE EXCHANGE
Belarus set to launch new law on state procurement in 2012
International Markets Newswire. Prime-Tass. 2011.11.17
The new law on state procurement may be launched in
The bill has not been forwarded to parliament yet, but it is presumed to take effect starting December 1, 2011, Tarasov said.
The new bill reduced the number of procedures involved in the process of state procurement, which will be based entirely on e-auctions with e-bidding, Tarasov said.
The new process is expected to make an active use of e-documents and digital signatures.
E-bidding at e-auctions may result in reducing the initial price by 50%, BUCE Board Chairman Arkadi Salikov told reporters Tuesday.
According to Salikov, being a useful mechanism for state procurement, e-auctions will become a standard practice in
Belarusian Universal Commodity Exchange invested around Br1 billion ($114,000 at the NBB rate) to facilitate state procurement via e-auctions.
Belarusian Universal Commodity Exchange OJSC was registered by
The state holds a 98% stake in the BUCE statutory capital.
The list of commodities that can be traded at the mercantile exchange includes timber, farm products, industrial and consumer goods.
Belarusian Universal Commodity Exchange in March 2011 became a full member of the Association of Future Markets (AFM).