BAKU, Azerbaijan, Aug. 12
Trend:
Deputy Chairman of the Board of the Eurasian Development Bank (EDB) Amangeldy Isenov spoke at the collegium of the Ministry of Trade and Integration of Kazakhstan on August 12, 2021, Trend reports citing the ministry.
Isenov said that the EDB has a Technical Assistance Fund, which provides effective assistance in the implementation of the mission entrusted to it by financing measures for the preparation and implementation of investment projects, supporting regional integration programs, conducting interstate, country, sectoral and innovative research aimed at economic growth, the formation and development of the market economy of the Bank's Participants, the expansion of trade and economic ties between them, as well as other activities related to the Bank's activities and aimed at fulfilling its mission.
At the meeting of the Supreme Eurasian Economic Council, President of Kazakhstan Kassym-Jomart Tokayev voiced an initiative on the need to study the possibility of creating a common commodity distribution network with interested EAEU countries.
“In this regard, this year the bank, having discussed the terms of reference with the Ministry of Trade and Integration, the Eurasian Economic Commission, together with an external consultant, began to implement a project to formulate the Concept of the Eurasian commodity distribution system. The work is being carried out both in the EAEU countries and Tajikistan (a member country of the EDB), Uzbekistan (a potential member country of the EDB,” said Isenov.
“At the same time, the study of the Eurasian Development Bank includes a comprehensive cross-country analysis of the following components: analysis of trade turnover, trade balances of food products, existing infrastructure, determination of transport and logistics corridors and requirements for the functioning of wholesale distribution centers, development of proposals for the creation of a unified digital platform and on the harmonization of legislation in the EAEU countries to create a Unified Commodity Distribution System,” he added.
The deputy chairman said that the commodity market of the EAEU countries needs a market, logistics and distribution infrastructure, well-established from a conceptual and technical point of view, which would ensure its uninterrupted functioning and the ability to manage commodity flows in the agro-industrial complex.
The national distribution network will in the future be part of the Eurasian distribution network, the Bank is ready to be the main participant in the implementation of this project.