Uzbek commodity exchange opens branch in Shanghai

The Uzbek Republican Commodity Exchange, or UzEx, the biggest trading platform in Central Asia, has opened a branch in Shanghai, which is set to promote trade between the two countries, said insiders.

The branch, located in the National Exhibition and Convention Center, the venue for the annual China International Import Expo, was launched on Tuesday. It has 10 trading seats and will provide spot transaction to domestic buyers for commodities traded at UzEx, including metals, crude oil products, cotton and construction materials.

Farokhidin Ibragimov, chairman of the board of UzEx, said that the opening of the branch will facilitate mutual access for entrepreneurs and producers to the commodity markets of the two countries according to market mechanisms.