“BUCE marketplace offers a wide range of opportunities to develop mutual trade between Pakistan and Belarus. I am sure that raising the awareness of the Pakistani business community about the Belarusian Commodity Exchange and its services will be instrumental to further growth of the Pakistani exports to your country as well as imports of highly sought after Belarusian goods to Pakistan”.

This statement came from Sajjad Haider Khan, Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Pakistan to the Republic of Belarus, who visited the head office of the Belarusian Universal Commodity Exchange (BUCE) on August 3, 2021.

According to the Pakistani diplomat, with COVID-2019 pandemic still in place, online exchange trading can give a fillip to the Belarus-Pakistan trade and economic cooperation and create a conducive environment for strengthening business ties between the economic agents of the two countries.

“The volume of trade between Pakistan and Belarus is rather modest reaching some 55 mln USD in 2020. At the same time, I see huge potential of improving this indicator by widening, among other things, the application of the exchange mechanism. As you know, Pakistan is one of the world’s biggest exporters of rice, wheat, and other grains. We also have a very well developed textile industry. This said, I believe that Pakistani producers would be interested in shipping these products to Belarus or other countries registered on BUCE. Belarusian enterprises, in their turn, could export chemicals and petrochemical to Pakistan. The demand for these goods is always high in our country”, Sajjad Haider Khan noted.

In return, Alexander Osmolovski, BUCE Chairman, expressed hope that Mr. Sajjad Haider Khan’s visit will become a starting point for fruitful cooperation between BUCE and the Pakistani Embassy and confirmed his willingness to render any assistance required for the Pakistani companies to make their debut on the Belarusian commodity market.

“I assure you that BUCE will find business partners for any Pakistani company that decides to operate on our electronic marketplace. One of our key advantages is that we free our clients of the majority of troubles they may encounter when entering the Belarusian market. We also minimize the possible risks. Furthermore, we are ready to become a springboard for the Pakistani manufacturers seeking to sell their produce to the EU where we have nearly 4 thousand registered members. We call this “transit transactions” as both the parties involved are foreign residents. Over the last couple of months alone companies from 5 countries have successfully used this mechanism. A Pakistani exporter merely has to submit a sell offer into our trading system and we will take care of the rest”, BUCE Chairman underscored.