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BUCE opens its branch in Mogilev

The Belarusian Commodity Exchange has opened its branch in Mogilev. It started to work in the oblast centre on July 8, BelTA learnt at BUCE. The Mogilev trading facility will operate simultaneously with the BUCE Central Office in Minsk and also with the BUCE branches in Brest and Gomel. So, businessmen will have a possibility to take part in real-time exchange auctions being in Minsk, Brest, Gomel or Mogilev. The Belarusian Commodity Exchange intends to open its branches in Vitebsk and Grodno as well. The Belarusian Commodity Exchange was registered in May 2004. The main goal of the Belarusian Commodity Exchange is to improve the government control over the interior and foreign trade, to develop the organized wholesale market of goods, to create additional economic inducements for economic entities. In line with the national exports development programme for 2006-2010 the electronic trade system is expected to be set up using the BUCE information networks. According to the programme, the Belarusian Universal Commodity Exchange intends to participate in setting up the integrated commodity exchange area of the CIS member countries, establishing the contacts with the commodity exchanges of these states. In particular, BUCE signed a cooperation agreement with the St. Petersburg Commodity Exchange and the Uzbek National Commodity Exchange. The Belarusian Universal Commodity Exchange reached a cooperation agreement with the National Commodity Exchange which is part of the Moscow Interbank Currency Exchange.