Participants in the session ‘A Modern Development Paradigm for the Agricultural Industry: Global Challenges and New Opportunities’, which will be held as part of the business programme of the second Eurasian Economic Forum (EAEF) in Moscow on 24–25 May, will discuss a number of key issues related to the material, technical, and technological infrastructure of the agricultural industry of the countries of the Eurasian Economic Union (EAEU), the development of organic agriculture, the logistics capabilities of commodity distribution networks, and the dissemination of innovations in the agricultural industry, including the introduction of digital product safety management systems.
Despite the economic challenges posed in recent years by the COVID-19 pandemic, member states have continued to enact their national policies and take joint action together with the Eurasian Economic Commission. This has all successfully contributed to the growth of the agricultural industry.
Over the past three years, the overall volume index for the EAEU agricultural industry amounted to 104.7%. Meanwhile, mutual trade increased by 34.8%, and exports by 41.7%. In 2021, a foreign trade surplus was achieved in agricultural products and food (reaching +USD 1.8 billion). The Union is relatively self-sufficient when it comes to agricultural products (92.6% in 2022). The member states fully satisfy their demand for grain, pork, poultry meat, eggs, and vegetable oils with domestic production.
These changes, along with the import of significant volumes of capital goods to the EAEU domestic market, including high-tech goods, have resulted in the EAEU setting brand-new goals for the agricultural industry, including the import substitution of material and technical resources, the creation of optimal and efficient infrastructure and logistics solutions, the introduction of innovations and digitalization in the agricultural industry, and the sustainable development of agriculture. In 2021, the EAEU imported USD 6.1 billion worth of materials and technology.
For EAEU member states, all this provides an incentive to make the industry more competitive by fostering cooperation, introducing new effective technological solutions, creating new routes, and developing trade and logistics networks as well as wholesale distribution centres. In addition, the global agenda has made it essential for EAEU member states to develop the agricultural industry in a sustainable manner, factoring in economic, social, and environmental issues. There is a clear need for member states to work together in this regard.
A detailed version of the business programme is available of the Forum’s official website.
