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Kyrgyzstan participates in creation of Eurasian commodity distribution system

The Ministry of Agriculture, Water Resources and Regional Development of Kyrgyzstan joined the work of the Eurasian Development Bank (EDB) to form the concept of the Eurasian commodity distribution system. Press service of the EDB reported.

The corresponding memorandum was signed on the sidelines of the meeting of the Eurasian Intergovernmental Council in Cholpon-Ata by the Chairman of the Board of the EDB Nikolay Podguzov and the head of the Ministry of Agriculture Askarbek Dzhanybekov.

The parties also agreed to provide the assistance necessary to achieve the goals of mutually beneficial cooperation.

Currently, the EDB, together with the Food and Agriculture Organization of the United Nations (FAO), is conducting a study to formulate the concept of the Eurasian commodity distribution system. Work is being carried out in the EAEU countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia), Tajikistan (an EDB member state), and Uzbekistan (a potential EDB member state). As part of the study, the trade turnover of states, trade balances of food products, and the existing infrastructure will be studied.

In addition, transport and logistics corridors and requirements for functioning of wholesale distribution centers will be determined. Further, a holistic picture of the Eurasian commodity distribution system will be formed and practical steps will be developed to introduce the concept: creation of a single digital platform and harmonization of legislation in the EAEU states. The final stage will be the assessment of the integration economic effect from the implementation of this project.

«Creation of an effective food trade system without barriers and restrictions is one of the most important priorities for the integration interaction of the EAEU member states. The development of the Eurasian commodity distribution system will make it possible to comprehensively solve a number of strategic issues. This is an increase in the competitiveness of producers of agricultural and food products, a reduction of costs in the production, storage and transportation of goods. Optimization of delivery chains will be achieved. All this will contribute to the stabilization of prices for food products in the region, an increase in producers’ incomes and reduction of costs of end consumers,» Nikolay Podguzov said.