21 Jun 2022 16:33

EAEU countries agree on free turnover of grain, scrap ferrous metal, paper as part of indicative balances

MOSCOW. June 21 (Interfax) - The prime ministers of the Eurasian Economic Union (EAEU) countries identified rules for the operation of the single market for sensitive types of products, stipulating their free circulation in mutual trade as part of approved indicative balances at a Eurasian Intergovernmental Council meeting on Tuesday.

"The list includes wheat and meslin, barley, corn, sunflower seeds, sugar, sunflower oil, recyclable paper or cardboard, as well as waste and scrap ferrous metals," Eurasian Economic Commission (EEC) Trade Minister Andrei Slepnev was quoted as saying in a statement issued by the EEC trade block.

The EEC Council jointly with the governments of the EAEU countries is tasked with organizing the elaboration of balances for the goods from the list.

At the same time, the EAEU countries will monitor compliance with export restrictions imposed by the EAEU participants regarding these goods.

"When exporting these products to other countries, the parties will not allow evading export regulation measures imposed by one or more countries, including by taking unilateral and (or) unified export regulation measures within the Union," the statement said.

The Eurasian Intergovernmental Council's directive will take effect on the day of its official publication and will be valid until September 30, 2024.