EEU farming industry forecasts 8% growth in 2016-2017
MOSCOW. KAZINFORM The Eurasian Economic Commission (EEC) forecasts an 8% growth for the agricultural industry of the Eurasian Economic Union (EEU) in 2016-2017, BelTA learnt from the EEC press service.
The EEC Board approved joint agricultural development forecasts and consolidated demand and supply forecasts on the main agricultural products in the EEU for 2016-2017. “In line with the document, the growth of farm production is expected at 8%, export – at 19% and mutual trade – at 15%. The average self-sufficiency rate for agricultural products will reach 94% in 2017,” the press service noted.
Sergei Sidorsky, Member of the Board (Minister) for Industry and Agribusiness of the Eurasian Economic Commission, stressed that joint forecasts help assess the scale and areas of growth in the farming sector, its investment attractiveness taking into account the size of the single market and the food security situation, the economic status of the sector. The minister stressed that “the development of consolidated demand and supply forecasts helps connect the needs in agricultural products and raw material with the potential of national producers, assess the prospects for mutual trade with a view to substituting imports from third countries.”
The document provides the analysis of manufacturing, foreign trade and social development aspects of the agro-industrial complex.