The initial stage suggests using the stock exchange instruments on a small number of companies and then scale up the experience onto a wider range of enterprises from various industries. The project is about both the export of Russian-made products and the purchase of Belarusian goods for import substitution purposes.
Import substitution may become the vital part of trade between Belarus and Nizhny Novgorod Oblast of Russia, Chairman of the Board of the Belarusian Universal Commodity Exchange (BUCE) Aleksandr Osmolovsky said at a Belarus- Nizhny Novgorod business forum.
Promotion of trade in timber and agricultural products, development of import substitution and holding joint business events have been identified as priority areas of cooperation between the Belarusian Universal Commodity Exchange (BUCE) and the Embassy of Uzbekistan in Belarus
“The processes of de-globalization and regionalization continue to have a tangible influence on the development of exchange commodity markets worldwide, including contributing to the widening ‘information gap' between the Western and CIS countries,” said Aleksandr Osmolovsky.
Belarus' experience of using the mechanism of exchange trading to level out negative processes in the economy and ensure its sustainable development was presented at an international conference at Skolkovo Innovation Center in Moscow on 9-10 November.