EEC identifies 55 most promising markets for agribusiness exports

MOSCOW. June 28 (Interfax) - The board of the Eurasian Economic Commission (EEC) on Tuesday identified the most promising markets and products for agribusiness exports from Eurasian Economic Union (EAEU) countries.

This was done "on the basis of methodical approaches," the commission said in a press release.

"The main trade partners, including those with which the EAEU is developing or planning to develop cooperation under free trade zones, have been selected as the niche that is of interest for member nations: countries in the Persian Gulf, Southeast Asia and others. A total of 55 countries are identified in the EEC board's recommendations," the commission said.

The recommendations also identify the main products of EAEU countries with the best conditions of access to the markets of third countries, as well as the geography of export shipments.

For example, it believes the most promising markets for meat and meat products are Vietnam, Qatar, China, the United Arab Emirates and Uzbekistan; for fish and shellfish they are Egypt, China and Thailand; for dairy products they are Vietnam, Egypt, Israel, China, Oman and Saudi Arabia; for grains they are China, Jordan, the UAE, Morocco, Tunisia, Turkey and others; and for fats and vegetable oils they are Egypt, India, Iran, Saudi Arabia, Tunisia and others.

The selected 55 countries combined import an estimated $322.2 billion worth of the recommended products per year, and imports from the EAEU account for only 5.3% or $17.1 billion. "This speaks to the significant potential for increasing the exports of EAEU member nations," the commission said.