May 30, 2011

EurAsEC seeks to establish common grain market

The Eurasian Economic Community (EurAsEC) countries are planning to establish a common market for grain, Russian Finance Minister Alexei Kudrin said at a meeting of the EurAsEC Interstate Council.

"The draft agreement on the organisation and functioning of the grain market of the Eurasian Economic Community has been prepared already," Alexei Kudrin said. According to him, the countries are considering the possibility of establishing common markets of meat, milk, fruit, and vegetable products such as vegetable oil.

When speaking about the development of EurAsEC food markets, the Russian finance minister added that the legislations in this area are being approximated, and that national programmes are being implemented. "Some measures have already been included in the Customs Code to prevent unauthorized re-export of goods," Alexei Kudrin stressed.