Belarus considers sale of metal products through exchange platform of Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- A delegation of Byelorussian Steel Works (BMZ) during the visit to central office of the Belarusian Universal Commodity Exchange (BUCE) held a discussion on prospects of exporting metal products to Uzbekistan via Uzbekistan Commodity Exchange (UZEX).
As head of marketing at BMZ Yevgeny Kuzmich noted, at present, the company’s products are almost not being supplied to the Uzbek market, which is why this country is interesting for BMZ from the point of view of supply diversification. However, it is first necessary to work out in detail all the organizational aspects and first of all logistics.
“Thanks to your electronic platform, we will be able to enter the market of Uzbekistan, then we are ready to try. We are interested in supplying large quantities of products by rail, while at the same time, in order to optimize logistics costs, it is necessary to ensure the return loading of cars,” Yevgeny Kuzmich said.
Representatives of the UZEX trading platform noted that currently the metallurgical enterprises of Uzbekistan cover internal demand for metal by only 30%. Moreover, in accordance with local legislation, the purchase of black metal, including such popular items as fittings, angle and channel, is possible exclusively at the exchange trades.
“Our marketing research has shown that Belarusian metal products can successfully compete on the price parameter in the Uzbek market, despite the rather long logistics leg. We are sure that the BMZ brand itself - one of the world’s leading metal manufacturers - will work,” representatives of the Uzbek trading platform said.
As part of the strategic partnership agreement, in December 2018, a trading platform UZEX was created on the basis of BUCE, allowing Belarusian business entities to participate remotely in trading on the Uzbek stock exchange. Transactions on the site on behalf of the Belarusian and Uzbek companies are made by accredited stock brokers Global Trade Group LLC and Latemgroup LLC.