Tashkent, Uzbekistan (UzDaily.com) — The Belarusian Universal Commodity Exchange (BUCE) and the Embassy of Uzbekistan in Belarus have agreed to expand cooperation in the exchange trading sector.

The primary goal of this partnership is to increase the participation of Uzbek companies in trading on the Belarusian exchange platform. This was discussed during a meeting between Rahmatulla Nazarov, Ambassador Extraordinary and Plenipotentiary of Uzbekistan to Belarus, and Alexander Osmolovsky, Chairman of the BUCE Management Board, as reported by BELTA.

The parties outlined plans for 2025, focusing on joint business events for Uzbek enterprises, including seminars, conferences, and forums—both in-person and via videoconferencing. The participants noted that insufficient awareness among Uzbek companies about exchange trading opportunities remains a key barrier to increasing trade turnover between the two countries.

“Last year, the volume of transactions by Uzbek participants on your platform tripled. This is an impressive result, but the cooperation potential is much greater. We are ready to assist in organizing events both in Belarus and Uzbekistan to attract companies from all regions of our country,” said Rahmatulla Nazarov.

Alexander Osmolovsky welcomed the ambassador’s initiative, emphasizing Uzbekistan’s significance in BUCE’s international activities.

“We actively cooperate in exchange trading, educational services, price formation, and within the framework of the International Association of Exchanges. The similarities between our markets facilitate joint projects, benefiting both parties,” he stated.

As of 28 February 2025, 188 Uzbek residents, including three exchange brokers, were accredited on BUCE.

In the first two months of this year, Uzbek participants conducted transactions worth US$15.8 million, a 1.5-fold increase compared to the same period in 2024. The key traded commodities included Belarusian lumber and dry milk.

Founded in 2004, the Belarusian Universal Commodity Exchange is one of the largest trading platforms in Eastern Europe, facilitating Belarusian exports and helping foreign businesses enter the Belarusian market. It trades in metals, timber, agricultural products, industrial goods, and consumer goods.

The new initiatives between Belarus and Uzbekistan in exchange trading open additional business opportunities and contribute to strengthening economic ties in the region.