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Belarusian Commodity Exchange sees Turkmenistan as supply-friendly transit (Exclusive)

Turkmenistan Materials 18 April 2024 20:42 (UTC +04:00)
Khayal Khatamzadeh
Khayal Khatamzadeh
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BAKU, Azerbaijan, April 18. Turkmenistan can be viewed as a transit corridor for supplying Belarusian products to Iran and Afghanistan, Head of Exchange's Foreign Relations Alexander Bashliy told Trend.

"Belarus has an export-oriented economy; thus, businesses from a wide range of industries sell their products overseas, especially through exchange trading. At the same time, the exchange is generally used as a tool for expanding the geography of sales because, through our trading system, it is possible to obtain access to potential buyers from more than 70 countries at minimum cost," he said.

The representative of the exchange noted that Turkmenistan is also represented on the exchange, and for many Belarusian enterprises, it is a promising sales market with great potential.

"However, the options for imports are fairly broad. Polymer products, detergents, textile raw materials, and workwear are among the most popular items on the Belarusian stock market. All of these products are manufactured in Turkmenistan and can be distributed to the Belarusian market via an exchange platform. In other words, actively using the exchange mechanism in mutual trade will benefit both the Belarusian and Turkmen sides," Bashliy stressed.

He also stated that the exchange system is as transparent as possible because trading is conducted anonymously and any chance of pricing collusion is eliminated, despite the fact that uniform rules apply to all bids, which are overseen by the stockbroker.

Meanwhile, a delegation from the Belarusian Universal Commodity Exchange's Department of Foreign Relations visited Ashgabat in late March, where plans were announced to increase trade with Turkmenistan this year by realizing the exchange site's export potential, which is primarily due to lumber, dairy products, and sugar.

Several meetings with potential timber importers and Turkmen food sector enterprises were held during the tour, which was organized by the Belarusian Chamber of Commerce and Industry's Minsk branch in partnership with the Embassy of Belarus in Turkmenistan.

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