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Memorandum of Understanding between the Eurasian Economic Commission and the Ministry of Agriculture of Hungary was signed

Memorandum of Understanding between the Eurasian Economic Commission and the Ministry of Agriculture of Hungary was signed

9/27/2016

On September 26, a Memorandum of Understanding between the Eurasian Economic Commission and the Ministry of Agriculture of Hungary on cooperation in the field of the Agroindustrial Complex was signed by the Member of the Board - Minister in charge of Industry and Agriculture, Sergey Sidorskiy, and Hungarian Minister of Agriculture Sándor Fazekas, in Budapest (Hungary).

The event was attended by Ambassador Extraordinary and Plenipotentiary of the Russian Federation in Hungary, Vladimir Sergeyev, Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan in Hungary Nurbakh Rustemov, as well as a representative of the Embassy of the Republic of Belarus in Hungary.

The memorandum defines the main directions and forms of interaction between the EEC and the Hungarian Ministry of agriculture to increase trade turnover between the countries of the Eurasian Economic Union and Hungary, eliminate barriers in trade, ensure food, veterinary and phytosanitary safety, technical and scientific cooperation and technological development in AIC branches.

"We are interested in experience of Hungary as a country with a developed agriculture and significant investment opportunities, the initiator and developer of documents on the implementation of the common agricultural policy in the EU," noted the EEC Minister Sergey Sidorskiy.

The parties agreed to intensify cooperation between Hungary and the EAEU Member States in agricultural trade. It implies the purchase of fodder, seeds, breeding material. In addition, the possibility of extending the interaction in the sphere of technology and investment in the food industry (processing of fruits and vegetables, meat and poultry), aquaculture, production of veterinary drugs was discussed.

It was agreed that, in order to remove barriers and ensure access of products of the Union states to the European market, the experts of the parties should harmonize the requirements of technical regulations of the Eurasian and European unions in the agro-industrial sector. The experience of Hungary will be useful here, as it passed this process during its accession to the EU.

Sergey Sidorskiy informed the Hungarian side on the Union state support programmes in the agricultural sector and proposed "not to miss the good opportunities for localization of processing industries in the territory of the Union in order to import substitution”.

"The interaction of the Commission with Hungary in the field of agro-industrial complex will have a positive impact on further development of integration processes of the Eurasian Economic Union and allow the Union States to take into account the best European practices in the realization of the coherent agricultural policy," the EEC Minister said.

Agreements on industrial development will form the basis of the joint action plan (“the road map”).

To ensure practical relevance of cooperation, the parties intend to hold meetings on a regular basis, with the involvement of representatives of public authorities and business circles of the agro-industrial sector.