On February 17, 2016 a delegation of Turkey-Belarus Business Cooperation Council (part of Turkey’s Foreign Economic Relations Board) visited BUCE head office. The members of the delegation got familiar with BUCE’s core activities as well as advantages of using the exchange mechanism in cross-border trade with the Republic of Belarus and other participants of the Eurasian Economic Union.

The talks focused on promising areas of collaboration between BUCE and Turkey-Belarus Business Cooperation Council, including assistance with bringing Turkish companies to BUCE’s trading platforms and promotion of BUCE’s services on the Turkish market. The sides also discussed possible registration of an exchange warehouse in Turkey, which would help cut the costs arising from delivery of goods purchased at the exchange. With this in mind, Metehan Karpuzoglu, representative of Turkey’s transportation giant Arkas Holding, suggested signing an agreement with BUCE so that Arkas could harness its extensive infrastructure to provide transportation services to Turkish companies operating via the commodity exchange thus facilitating the shipment of goods to Turkey or any other West Asian country.

In addition, according to Sefa Gemdeniz, Chairman of Turkey-Belarus Business Cooperation Council, the Turkish side is interested in boosting mutual trade between the two countries and is therefore willing to help BUCE find a reliable partner in Turkey that could later become an exchange broker. This said, Arkady Salikov, BUCE Chairman, noted that collaboration with the future Turkish broker will be based on the scheme used with brokers from the Russian Federation and Latvia. However, a joint venture with BUCE’s stake may be set up as well.