The Belarusian Universal Commodity Exchange (BUCE) and the Egyptian Mercantile Exchange (EMX) have identified a list of practical steps to be undertaken in the near future as part of implementation of the Memorandum of Understanding between the two entities. To this end, a joint taskforce composed of BUCE and EMX specialists will be established. Its primary objective will be to coordinate cooperation between the Belarusian and Egyptian exchanges in the areas of mutual interest. This was agreed upon during the online meeting between the representatives of BUCE and EMX held on October 20.

“Given the exceptional importance of the Egyptian market for the development of exchange trading with MENA countries, we are genuinely interested in putting all the key areas of cooperation outlined in the MoU into practice. We are ready to collaborate in any format acceptable to the Egyptian side. By consolidating the efforts of our two exchanges we will undoubtedly foster the development of exchange trading between Belarus and Egypt, while creating favorable conditions for increasing trade turnover and intensifying business contacts,” noted Yaroslav Kovalchuk, Head of BUCE Foreign Relations Department.

EMX representatives confirmed their intention to strengthen their partnership with BUCE and start implementing the provisions of the MoU. More specifically, the Egyptian side expressed interest in studying BUCE’s experience in conducting electronic exchange auctions for agricultural products on the domestic and foreign markets, as well as in adopting the methodologies, tools, and mechanisms used by the Belarusian exchange platform to ensure transparent market pricing, efficient risk management, and proper execution of exchange transactions.

Special attention will be paid to sharing price information and analytical data, the transfer of technology, and assistance to Egyptian importers and exporters in accessing the Belarusian exchange market.