EAEU Food Self-Sufficiency Reaches 93.5%, Trade Talks with India at Advanced Stage

Dragon Media News Desk

Member states of the Eurasian Economic Union (EAEU) have held detailed discussions on food security, trade expansion and strengthening economic relations with external partners.

Following the conclusion of the two-day meeting of the Eurasian Intergovernmental Council in Cholpon-Ata, Kyrgyzstan, Russian Deputy Prime Minister Alexey Overchuk said the Union’s food self-sufficiency rate has reached 93.5 percent.

According to Overchuk, EAEU member states are largely self-sufficient in major agricultural products. Against the backdrop of climate change and growing water shortages, participants stressed the importance of further coordination among the five member states to strengthen food security.

In addition to the report on food security, the meeting also reviewed the development of trade and economic ties between EAEU countries and external partners.

Particular attention was given to the implementation of existing trade agreements with Vietnam, Iran and Serbia. Participants also discussed the removal of tariff and non-tariff barriers affecting the implementation of these agreements.

Overchuk said the Iranian representative placed particular emphasis on the need to eliminate non-tariff barriers.

Ongoing trade negotiations with India were also among the key issues discussed at the meeting. According to Overchuk, talks with India have now reached a relatively advanced stage.

The participants also reviewed expert-level consultations concerning possible negotiations with Pakistan. EAEU member states expressed support for continuing discussions with the country.

The Union is also preparing to pursue trade negotiations with a number of other countries, including African nations. According to Overchuk, the relevant countries have already been notified and the EAEU is awaiting their responses.

A number of important agreements aimed at further institutionalizing Eurasian economic cooperation were also concluded during the meeting.

The Eurasian Economic Union comprises Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. The latest meeting indicates that strengthening food security, reducing internal trade barriers and expanding economic partnerships with Asia and other regions remain among the Union’s key priorities.