AGRICULTURE IN THE EURASIAN ECONOMIC UNION: ANALYSIS OF TRENDS AND CHALLENGES

Authors : Azimzhan KHITAKHUNOV

Pages : 37-53

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Publication Date : 2020-07-15

Article Type : Research Paper

Abstract :The paper reviews and analyzes the production potential and basic trade indicators of the Eurasian Economic Union countries. It shows that the region had a difficult transition, after which a role of agricultural sector decreased substantially. It also demonstrates that countries pursue different strategies to support agricultural and food production. Production patterns of the countries affected trade in agricultural and food products. The only country in the union, which has positive trade balance in agricultural and food products, is Belarus. The paper pays special attention to challenges of the Eurasian agriculture on the example of the effects of pandemic. The pandemic has a negative impact on agricultural production and trade as many producers experienced significant losses due to lockdowns, border closures, disruption of labor markets and export restrictions and bans. To help overcome future shocks, the paper provides policy recommendations based on regional cooperation and policy coordination.
Keywords : The Eurasian Economic Union, agriculture, food security, international trade, agricultural policy