The EAEC countries are expecting improved production and foreign trade indicators in the agroindustrial sector in 2016-2017
On July 13, 2016 at the session of the Advisory Committee for Agroindustrial Complex under the Board of the Eurasian Economic Commission (EEC) chaired by a Member of the Board - Minister in charge of Industry and Agroindustrial Complex of the EEC, Sergey Sidorskiy, the participants approved the medium-term forecast for the agroindustrial complex development, demand and supply by main types of agricultural products and foodstuffs.
The document was generated by the Commission with the participation of the States of the Union and gives a view of the current situation and forecast for agroindustrial sector development, foreign and mutual trade, as well as supply and demand balances by main types of agricultural products and foodstuffs.
The countries of the Eurasian Economic Union (EAEU) are expecting improved production and foreign trade indicators in 2016-2017 due to the positive trends in the agroindustrial complex. These findings are contained in the forecast of the agroindustrial complex development in the Member States in 2016-2017.
The forecast shows positive dynamics of production and foreign trade indicators. Thus, it is expected that agricultural production in the EAEU countries will increase in 2017 by 8%, exports by 19%, mutual trade by 15% vs. 2015 in dollar terms. The average level of self-sufficiency in basic foodstuffs in 2017 will grow to 94%. By 2017, it is projected to achieve full self-sufficiency in the Union, taking into account mutual supplies of goods, such as mutton, poultry meat, milk, poultry eggs, potatoes and vegetables.
Press-release at the official Eurasian Economic Commission web-site