BUCE and Oman Chamber of Commerce and Industry (OCCI) have agreed to cooperate in developing exchange trading between the Republic of Belarus and the Sultanate of Oman.

As partners, BUCE and OCCI will focus on boosting exports of Belarusian products to the Omani market. Top priority will be attached to export sales of dairy and timber products as they are regularly supplied abroad through the exchange platform and enjoy high demand in the Middle East. The Belarusian side also expressed interest in leveraging the exchange mechanism to import Omani goods to Belarus. This will expand the range of Omani products available to Belarusian companies and strengthen trade and economic ties between the two countries.

In turn, OCCI confirmed its willingness to help BUCE bring more Omani businesses – primarily OCCI members – to the exchange platform. Such collaboration is supposed to expand the pool of Omani buyers and sellers on BUCE and improve the efficiency of exchange transactions by increasing the concentration of supply and demand.

A joint BUCE-OCCI workshop to be held offline or online will be dedicated to peculiarities of exchange trading in Belarus, capabilities of BUCE’s electronic platform, and prospects for raising the level of trade and economic relations between Belarus and Oman.

“Cooperation with the Belarusian commodity exchange opens new opportunities for Omani entrepreneurs. We are interested in expanding the presence of Belarusian goods in our market and are ready to actively promote the involvement of our chamber members in exchange trading. The joint workshop that we have agreed to arrange will provide an excellent platform for sharing experience and building long-term business relationships,” noted Mustafa Ahmed Salman, a member of OCCI Board.

“Partnering up with Oman Chamber of Commerce and Industry will undoubtedly facilitate our efforts to raise the awareness of local businesses about the potential of the Belarusian exchange platform and its tools. We are looking forward to active involvement of Omani companies in exchange trading and are confident that joint events, including the upcoming workshop, will enable us to harness the entire spectrum of exchange trading opportunities available to businesses in both countries,” emphasized Yaroslav Kovalchuk, Head of the Foreign Economic Relations Department at BUCE.