A representative of the Belarusian Universal Commodity Exchange (BUCE) took part in an online conference on the development of investment and trade cooperation between Belarus and Ethiopia. The event was organized by the Embassy of the Federal Democratic Republic of Ethiopia in the Russian Federation and the Ethiopian Chamber of Commerce and Sectoral Associations with the assistance of the Belarusian Chamber of Commerce and Industry.

The participants of the conference discussed promising areas of collaboration between the two countries in the field of investment and trade and shared their views on the possibilities of strengthening business contacts between Belarusian and Ethiopian companies. Special attention was paid to the issue of increasing trade turnover between Belarus and Ethiopia through mutual supplies of products that are sought after in both markets. In particular, Belarus is interested in importing Ethiopian coffee, oilseeds and food raw materials, while Ethiopia is ready to purchase chemical products, milk powder, wheat gluten, animal fats and vegetable oils from Belarus.

As BUCE’s accumulates the demand and supply from tens of thousands of Belarusian and foreign companies, its electronic platform can be a viable option for organizing systematic trade in the aforementioned commodities allowing for maximum involvement of Belarusian and Ethiopian businesses. Moreover, the commodity items that Ethiopian importers are willing to procure, include some products that according to the Belarusian legislation can be sold via BUCE only. This makes the use of the exchange mechanism an integral part of the package of measures designed to bolster trade and economic cooperation between Belarus and Ethiopia.