On December 22, 2020, the Chairman of the AFG-QAZ Association, together with the Consul General of Islamic Afghanistan (the IRA) in the Republic of Kazakhstan Mr. W.Payab, visited the Eurasian Trading System Commodity Exchange JSC (the ETS Exchange). CEO of the ETS Exchange Mr.K.Orazayev kindly made us a presentation of its capabilities.
The ETS Exchange (www.ets.kz) was established in 2008, within the framework of the activities of the Regional Financial Center of Almaty JSC and the RTS Stock Exchange JSC. It is a member of the CLE Exchange Association of Kazakhstan and the International Association of CIS Exchanges, as well as a regional leader in its field.
The ETS activities are focused on conducting spot trading in exchange commodities in an anonymous mode. Their subject matter is wheat, coal, cement, sugar and liquefied gas, which are also claimed in the IRA.
Trading participants — stock brokers / dealers, conclude exchange transactions in the interests of themselves (receive commission interest) and clients — subjects of the markets of Kazakhstan, Russia and other foreign countries.
At the same time, foreign buyers transfer part of their money to the account of the ETS Clearing Center, which makes the process of buying and selling goods transparent. On the other hand, it excludes the use of criminal schemes by the parties in export-import operations. Trades can continue depending on market conditions, which is also beneficial to their participants.
Unfortunately, in the recent period, cases of non-fulfillment of contractual obligations by private Kazakhstani suppliers of export products to the IRA (mainly grain, flour and fuels and lubricants) have become more frequent. This, in turn, reduces the business image of Kazakhstan, increasing the distrust of Afghan businessmen in our market for goods and services.
In this regard, Afghan buyers could use the reliable and convenient, commercially, opportunities of the ETS Exchange, becoming permanent participants in spot trading. The AFG-QAZ Association will recommend this to the IRA business community.
Chairman of the Kazakhstan-Afghanistan Association for Development and Partnership «AFG-QAZ»