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EAEU discussing application of mechanisms for financial support of cooperation projects in agriculture
The Eurasian Intergovernmental Council instructed the Commission, jointly with the countries of the Eurasian Economic Union, to work on expanding the mechanisms of financial support for joint cooperation projects to the agricultural sector and its infrastructure.
The Heads of State and Government of the EAEU have repeatedly noted the need for further cooperation on innovative development and seed production, creation of regional value chains, financing of joint projects on food production, development of trade and logistics infrastructure.
Taking into account the specifics of the Union's agriculture, the Commission jointly with the Member States will prepare proposals on the conditions of support for the agricultural sector using the EAEU budget funds and on relevant amendments to be made to supranational legislation.
Based on the analysis of the current state of the agricultural sector of the EAEU countries and the challenges facing the industry in implementing cooperation projects, the Commission considers a number of areas as the highest priority. Among them are the development of breeding and crop seed production, livestock farming, processing of agricultural products, improvement of agricultural infrastructure.
The application of financial support mechanisms in the agricultural sector will make it possible to develop domestic technologies, build efficient supply chains for products and resource support.
