The Deputy Prime Minister took part in the session “The Role of EAEU Member States in Shaping International Agricultural Markets” held during the 29th St Petersburg International Economic Forum.
The Deputy Prime Minister took part in the session “The Role of EAEU Member States in Shaping International Agricultural Markets” held during the 29th St Petersburg International Economic Forum
Speaking at the session on “The Role of EAEU Member States in Shaping International Agricultural Markets” held as part of the 29th St Petersburg International Economic Forum, Alexei Overchuk outlined the key results of the Union’s agricultural sector performance and the priorities for deeper integration.
He thanked Gohar Barseghyan, Minister in charge of Industry and Agriculture of the Eurasian Economic Commission, for her systematic work to support this sector. “The initiatives being implemented under your leadership will have a huge integration effect and significantly strengthen our shared food security,” he noted.
Speaking about the EAEU’s development over the past decade, Overchuk highlighted substantial growth in agricultural production and trade.
“Agricultural production in the Union’s member states has risen by nearly a third in real terms, mutual trade has increased 170 percent, and exports have grown 150 percent,” he said. According to him, the EAEU has transitioned from a net importer to a stable net exporter of food.
Particular attention was paid to the level of food self‑sufficiency. “Today it stands at around 94 percent. We fully cover our basic needs for key product types – grain, meat, milk, sugar, vegetable oils and eggs,” the Deputy Prime Minister noted. He added that the Union’s countries hold leading positions in global markets, particularly in wheat and frozen fish.
In the current environment, Alexei Overchuk said, the EAEU acts as a “safe haven” for food security. “Food production remains vulnerable to geopolitical and climatic factors, but integration within the Union allows us to withstand external shocks effectively,” he emphasised.
The Deputy Prime Minister outlined two key long‑term strategic priorities. The first is ensuring internal stability and food security for the member states. The second is creating the necessary conditions for agricultural products to enter foreign markets more actively. “These tasks are interconnected and mutually reinforcing,” he noted.
Among practical steps, Mr Overchuk mentioned the creation of a supranational financing mechanism for cooperative projects in the agricultural sector. “We aim to complete all the necessary regulatory and legal frameworks by the end of 2026 and then launch such projects. This will cover the entire chain – from agricultural production to processing and supply, including access to foreign markets. That will in turn strengthen integration ties,” the Deputy Prime Minister said.
He also highlighted the role of infrastructure and the development of exchange trading. “By 2030, we expect the exchange market to function as a mechanism for fairer pricing of agricultural products across the common market,” he noted. Work is also under way on logistics solutions and digital tools, including a map of the Union’s agricultural industry.
Concluding his speech, the Deputy Prime Minister stressed the importance of scientific cooperation in the agricultural sector, noting that without joint research and the development of new crop varieties, member countries will not be able to move forward. He added that there is now a growing recognition of the need to pool efforts in this area.
