EAEU countries to increase agricultural goods output
Baku, Azerbaijan, August 10
By Nargiz Sadikhova - Trend:
Eurasian Intergovernmental Council has approved joint forecast of agricultural complex development, balance of supply and demand of Eurasian Economic Union countries on agricultural goods, food items, wool, cotton fiber, tannery raw materials and flax-fiber for 2019-2020, Trend reports with reference to the press office of the Eurasian Economic Committee.
The forecast has been approved during the meeting of Eurasian Intergovernmental Council in Cholpon-Ata, Kyrgyzstan.
Thus, according to the forecast, the manufacturing of agricultural products in countries of the Union will on average increase by 3.7 percent in 2020 compared to 2017 and will amount to $118.6 billion.
Furthermore, it is also forecast that the increase of mutual trade will amount to 24 percent meaning that the value of mutual import will equal $10.4 billion.
“The export value to countries which are not members of the Union will increase by 19.2 percent, whereas the import will increase by 3.2 percent. Thus, during 2020 import of agricultural goods to Union will amount to $31.3 billion, whereas the export from the Union will be $56.7 billion,” the forecast said.
Eurasian Intergovernmental Council is the second level of intergovernmental institutions of Eurasian Economic Union (EAEU). The EAEU is an economic union of states located in central and northern Asia and Eastern Europe.
(1 USD = 387.47 KZT on August 10)
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