The Belarusian Universal Commodity Exchange (BUCE) recently held a meeting with a delegation from the Iraqi Businessmen Association (IBA).
In the course of the talks, the representatives of Iraq’s production and trading companies learnt about BUCE main activities and principles as well as the advantages of leveraging the exchange mechanism to boost Belarus-Iraq bilateral trade.
In this context, the sides discussed prospects of using BUCE’s electronic platforms when selling Belarusian products in Iraq and other Middle Eastern countries. It was also noted that in case of a significant number of transactions involving Iraqi companies a BUCE branch office or an exchange warehouse might be opened in Iraq.
Closing the meeting, the sides agreed to develop cooperation in information exchange, promotion of BUCE’s services among the Iraqi business community, and facilitation of Iraqi companies’ participation in exchange trade.
As a first step, there are plans to arrange a workshop for IBA members so that they could study basic commodity trading strategies and learn how to work with BUCE’s electronic trading platform of industrial and consumer goods.