OREANDA-NEWS. On March 14, head office of the Belarusian Universal Commodity Exchange (BUCE) played host to negotiations between a foreign delegation led by Ramin Mansuriyan, CEO of a major holding company with subsidiaries in Ukraine, Russia and Belarus, and BUCE representatives: Arkady Salikov, Chairman of the Board, Vladimir Torchik, Head of Information and Analysis, and Vitaly Kolos, Deputy head of BUCE's Russian office.

During the talks, the BUCE experts provided Mr. Mansuriyan with an insight into the main peculiarities and principles of the commodity exchange operation and came forward with possible areas of cooperation. One of the proposals was to accredit Mr. Mansuriyan's company at the BUCE so that it could participate in exchange auctions. The foreign guest agreed to this form of cooperation and stressed that one of most important advantages of trading via the BUCE is the possibility to make payments using the exchange's accounts. This is very similar to a letter of credit and offers extra assurance to both - the seller and the buyer. In addition, Mr. Mansuriyan noted that being an Honorary Consul of Ukraine in Guinea he is currently implementing a number of projects in this country as well as in other countries of the West African region. In view of the above, he voiced his willingness to facilitate the accreditation of companies working in the region at the BUCE. In his turn, Arkady Salikov, Chairman of the BUCE Board, asked Mr. Mansuriyan to consider the possibility of setting up a regional electronic trading platform in Western Africa similar to the BUCE's Consumer and Industrial Goods platform. This new platform will be based on the proprietary software developed by the BUCE engineers.

Following the meeting, the sides agreed that during the current week one of Mr. Mansuriyan's companies will be accredited at the BUCE and will start placing bids in the commodity exchange trading system. They also decided to analyze the proposed avenues of cooperation and think of specific projects that could benefit both the parties.