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EAEU to approach agriculture development in a consistent manner

EAEU to approach agriculture development in a consistent manner

The Intergovernmental Council has approved drafting a map for developing the Eurasian Economic Union’s agroindustry. This involves creating an information resource about major investment and innovative projects important for developing the Union’s agricultural sector.

It is assumed that the "Union’s Agroindustry" map will consist of three sections. The first section of the map will include ongoing and planned major projects helping to fill the common agricultural market with products manufactured in the Member States usually worth more than 10 mln. US dollars; cooperative projects involving interstate interaction, mutual supplies of raw materials or finished products; projects aimed at developing and implementing innovative technological solutions in the agricultural sector involving two or more Union countries. This will enable the EAEU partners to avoid duplication of industrial facilities when forming national development plans and investment programs and considering trends in developing and supplying goods manufactured in the common agricultural market.

The second part will present promising trends in forming cooperative production chains within the Union to develop import-substituting and high-tech industries, improving industrial resourcing and effective use of agricultural state support measures.

It is also planned to include data on agricultural goods and resources, for which there is a large share of import in the Union market.

It is envisaged to make the map available on the EAEU official website and update it as and when required in accordance with proposals of the parties.

Therefore, the "Union’s Agriculture" map will be a comprehensive document aimed at effective use of possibilities of the Union partners, implementing import-substituting and integration potential when forming a system of sustainable development of agricultural sector and common agrarian market.​