UAE interested in BUCE
During the export trading session, a company from the emirate of Abu Dhabi purchased a trial batch of edged hardwood sawn timber from a Belarusian woodworking company.
This is the first transaction for the sale of sawn products to the United Arab Emirates at the Belarusian Universal Commodity Exchange.
This year, BUCE pays special attention to the diversification of the exchange export of timber products by reaching end-users in the countries of the “far arc”. Priority is given to Asia and the Middle East, since the largest importers of woodworking products are concentrated in these regions.
There are already certain successes in the Chinese direction, within the framework of special trading sessions, sawn timber is regularly supplied to this market with delivery to the buyer. In 2021, sales of Belarusian sawn products to China amounted to $44 million. As for the countries of the Middle East, the residents of Israel, Lebanon and Egypt are the most active on the stock exchange. Purchase volumes are not very large yet, but the dynamics are positive.
By supplying their products to Abu Dhabi, Dubai or Sharjah, Belarusian enterprises automatically gain access to potential buyers from Africa, Southeast Asia and other regions. Therefore, now the primary task is to gain a foothold in the UAE market by increasing the number of accredited companies and the volume of deliveries. In parallel, a search will be conducted for a partner organization that is ready to become a stock broker in this country, the BUCE press service reported.