Big Estonian timber company to buy products via Belarus' Universal Commodity Exchange

16.10.2020 10:39 / Belarus / Estonia

MINSK – One of Estonia's leading woodworking companies, Barrus AS, has plans to purchase wood products at the Belarusian Universal Commodity Exchange (BUCE). The corresponding agreement was reached at a meeting of Barrus AS top managers with the BUCE managers on 15 October, BelTA learned from the BUCE press service.

According to Chief Executive Officer at Barrus AS Martti Kork, the decision to enter the Belarusian market was prompted primarily by economic considerations. “Any business seeks to maximize profits and minimize costs, and our company is no exception. Until now, we have purchased all wood raw materials and lumber from the neighboring countries: Latvia, Russia, Finland, Sweden. Sometimes it was Belarusian lumber brought to Estonia by intermediaries. The BUCE will enable us to work directly with Belarusian producers,” the Estonian businessman said.

In turn, BUCE Chairman of the Board Aleksandr Osmolovsky said that the BUCE is ready to help Barrus AS find business partners and to provide the necessary information assistance for successful operation in Belarus. “All you need is to be accredited on the exchange and place a purchase order in the trading system, and we will help you find reliable suppliers. Among our partners are all forestry enterprises of the country and private sawmills, therefore your order will be executed in any case,” the BUCE head stressed.

In addition to participating in exchange trading, Barrus AS is exploring the possibility of investing in the woodworking industry in Belarus. We are interested in establishing a high-tech woodworking enterprise here that would make products for export. We have not yet decided whether it will be a greenfield project or a Belarus-Estonia joint venture. In any case, this is a very promising area of work for us,” Martti Kork said.

Source: BELTA

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