Agricultural production to grow by 8% within the Eurasian Economic Union, mutual trade by 15%, and exports by 19% in 2016-2017
On September 6, 2016 by disposition of the Board of the Eurasian Economic Commission (EEC), the task of joint forecasts of the development of the Agroindustrial Complex as well as consolidated forecasts of the supply and demand for the main types of agricultural products and foodstuffs in the Eurasian Economic Union countries in 2016-2017 has been approved. The forecasts will be considered at the next session of the Council of the Commission.
In accordance with the prepared document, the growth in agricultural production for the forecast period is to comprise 8%, exports– 19%, and mutual trade – 15%. In 2017, the mean value of the self-sufficiency in terms of major agricultural goods is to increase by up to 94%.
Sergey Sidorskiy, Member of the Board -Minister in charge of Industry and the Agroindustrial Complex of the Eurasian Economic Commission, emphasized that joint forecasts facilitate the assessment of the trends and directions of development in agriculture, the investment climate of the economic sectors, with regard to common market capacity within the Union, the food security conditions, and the economic position of the AIC sectors.
The document presents analysis of the production, economic, international trade and social welfare aspects of the development of the Agroindustrial Complex. More specifically, the current situation in the AIC of the countries of the EAEU, the forecasts of the development of the AIC in the Union as a whole and according to each member state are considered. Forecast balances according to each major agricultural product and food products are conducted and conclusions and proposals are presented by the Commission for further development of the Agroindustrial Complex.
Press-release at the official Eurasian Economic Commission web-site