Prospects of boosting exchange trade between the Arabic Republic of Egypt and the Republic of Belarus were the main topic on the agenda of the talks held on June 1, 2021 as part of the visit of an Egyptian delegation to BUCE head office. The delegation consisted of CEOs of Egyptian companies operating in various sectors of economy: from agriculture and light industry to construction and power engineering.  

According to the head of the delegation – Secretary General of the Federation of Egyptian Chamber of Commerce, President of the Federation of Euro-Mediterranean Business Organizations Dr. Alaa Ezz, commodity trading in Egypt is on an early stage of development and therefore the information acquired during the visit to BUCE will be not only useful to Egyptian businesses but also help with creation Egypt’s first commodity exchange.    

“Belarus’ experience of establishing the exchange commodity market is certainly valuable to Egypt, and we would appreciate the possibility to study your best practices in this field. We are primarily interested in the agricultural sector as the first trades to be held on the Egyptian Commodity Exchange will involve this particular commodity group. At the same time, we are eager to cooperate in other areas, including imports of lumber, construction materials and industrial goods manufactured in Belarus. On the whole, I believe that Belarus and Egypt have significant potential for mutually beneficial cooperation in exchange trade, and together we will be able to harness it”, Dr. Alaa Ezz underscored.  

“We made a foray into the Egyptian market only this year, but we are already making some meaningful progress. For example, in March we registered the first transactions executed by a company from Egypt. It purchased a trial batch of the Belarusian lumber, and, as far as we know, the goods were safely delivered to the end consumer. Now it is important for us to recruit as many Egyptian enterprises as possible, both buyers and sellers, so that the exchange mechanism could operate at top efficiency. In this regard, we count on your help in popularizing the exchange trading instruments among the Egyptian business community”, summed up Alexander Osmolovsky. 

Based on the outcome of the meeting, it is planned to organize an official visit of the administration of the Egyptian Commodity Exchange to BUCE. Furthermore, information about BUCE and advantages will be included in the presentation materials distributed among the participants of business events arranged by the Federation of Egyptian Chambers of Commerce.