This was agreed upon by Ambassador Extraordinary and Plenipotentiary of Uzbekistan to Belarus Rakhmatulla Nazarov and Chairman of the Board of the Stock Exchange Alexander Osmolovsky during a meeting at the central office of the stock exchange, BelTA learned from the press service of the Stock Exchange.
Joint stock exchange-related events for the business community of Uzbekistan have been identified as a priority area of cooperation, both in face-to-face format and using video conferencing.
According to the parties, it is precisely the lack of awareness among Uzbek business entities about the possibilities of using the exchange mechanism in export-import activities that is the main factor preventing the achievement of higher growth rates of exchange turnover between Belarus and Uzbekistan.
"As far as I know, according to the results of last year, the amount of transactions of Uzbek participants on your site increased threefold. This is an impressive result, but I am sure that the potential for cooperation between our countries in the field of stock trading is much wider. Since strengthening trade and economic ties is one of the main functions of the embassy, and the exchange is directly related to this, we are ready to assist in organizing exchange seminars, conferences and forums both in Belarus and in Uzbekistan. At the same time, we will help attract companies from all regions of the country so that the effect of the events is maximized," said Rakhmatulla Nazarov.
Alexander Osmolovsky supported the proposal of the head of the Uzbek diplomatic mission, and also drew attention to the exceptional importance of Uzbekistan in the context of the exchange's international activities, including inter-exchange cooperation.
"We cooperate with Uzbekistan in many areas. These include stock trading, educational services, the formation of common price indicators for commodities, and cooperation within the framework of the International Association of Stock Exchanges. Moreover, we have practical results and positive dynamics in each of these areas. In this regard, it is impossible not to note the similarity of the exchange markets of our countries, which, of course, simplifies work with Uzbek partners and allows us to successfully implement joint projects with benefits for both sides," said the Chairman of the Board of BUTB.
As of February 28, 2025, 188 residents of Uzbekistan, including three stock brokers, were accredited to the BOOTB. In January-February, Uzbek bidders concluded deals totaling $15.8 million, which is 1.5 times more than in the same period of 2024. The structure of the exchange turnover was dominated by lumber and powdered milk produced in Belarus.
For reference: JSC "Belarusian Universal Commodity Exchange" was established in 2004. The first auctions were held in June 2005. The Belarusian Universal Commodity Exchange is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises in exporting products and to help foreign companies enter the Belarusian market. Metal, timber, agricultural products, industrial and consumer goods of a wide range are sold on the stock exchange.
