Putin: Problems with food prices growing worse amid volatility in global markets
15:39, 21 May
The problems with prices for socially important products have been growing worse amid the volatility in global markets, Russian President Vladimir Putin said at the online meeting of the Supreme Eurasian Economic Council on 21 May, BelTA has learned.
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"Now, given the volatility of global markets, the problems associated with the sharp fluctuation of prices for socially important products have been growing worse," Vladimir Putin said.
He added that Russia is grateful to the partners for supporting the Russian initiative to normalize the situation in this area. "We have concrete solutions to this issue. For example, not so long ago the Eurasian Economic Commission made concrete decisions to consolidate the EAEU price policy in the sugar market," the Russian leader recalled.
According to him, measures should be taken with regard to other products if necessary.
Vladimir Putin considers it necessary to explore the possibility of concluding free trade agreements with Indonesia and Mongolia. He recalled that the EAEU has signed similar documents with Vietnam, Serbia, Iran, and Singapore. “We consider it important to intensify negotiations on similar agreements with Israel and we support Aleksandr Lukashenko's proposal to sign a similar agreement with Egypt. We also consider it important to start negotiations with our major partner India as soon as possible, to look carefully into the feasibility of a free trade agreement with another large country - Indonesia, and with our neighbor Mongolia,” the Russian leader stressed.
In his words, despite the difficulties caused by the pandemic the trade between the Eurasian Economic Union member states increased by 17% in Q1 2021, compared with the same stretch last year. The president hailed it as a very good sign that the EAEU is moving in the right direction, that the efforts are bringing concrete results. “In general, we are happy with the way cooperation within the EAEU is developing, and, most importantly, that it brings real economic benefits, which are felt by the people of our countries,” said Vladimir Putin.
The Russian leader also noted that issues related to strengthening the EAEU common market require special attention. He explained that this includes the removal of unnecessary barriers and restrictions in trade in goods. “This work has been consistent and purposeful. As a result, even despite the difficulties caused by the pandemic, the trade between the EAEU member states rose by 17% in January-March 2021,” Vladimir Putin said.
