PHOTO
Arab Finance: Egypt’s Minister of Investment and Foreign Trade Mohamed Farid visited the Belarusian International Commodity Exchange (BUCE) in Minsk and discussed avenues for joint cooperation in commodity exchange trading, according to a statement.
In his meeting with Alexander Osmolovsky, Chairman of the BUCE, Farid reviewed mechanisms to enhance coordination and potential integration between the Egyptian Mercantile Exchange (EMX) and its Belarusian peer.
The Belarusian side outlined an overview of the exchange's operations, reflecting its role as one of the largest commodity exchanges in Eastern Europe and its contribution to regulating commodity trading and supporting trade. They also showcased the electronic trading system and technical services offered by the exchange.
Moreover, the talks touched upon supporting communication channels between the business communities of both countries, as well as establishing the technical and institutional frameworks that contribute to boosting bilateral trade.
Farid also emphasized the importance of benefiting from the Belarusian experience in developing electronic trading systems in line with the ministry’s commitment to supporting capacity building and the exchange of expertise to develop Egypt's commodity trade system.
For his part, Osmolovsky expressed his country's aspiration to build a strong and sustainable partnership with Egypt, affirming the BUCE’s readiness to exchange technical and technological expertise and transfer knowledge in the fields of electronic trading and the development of digital platforms.
At the conclusion of the eighth session of the Egyptian-Belarusian Joint Trade Committee in Minsk, the two countries inked a strategic cooperation protocol to expand bilateral trade.
The deal includes significant investment incentives and facilities to Belarusian companies seeking to enter the Egyptian market through the organized exchange of information between the General Authority for Investment and Free Zones (GAFI) and its Belarusian counterparts.
This came as part of the minister’s official visit to Belarus, where he explored establishing three joint projects with Belarus-based companies.
