World meat industry news

Russia and Mongolia have agreed on duty-free import of certain types of agricultural products into Russia. The parties also noted an almost double increase in trade turnover in national currencies compared to last year.

At the 25th meeting of the intergovernmental commission on trade, economic, scientific and technical cooperation between Russia and Mongolia, the parties discussed issues related to agricultural exports. As Deputy Prime Minister Victoria Abramchenko said in a message, one of the main achievements in this direction was the agreement on duty-free export of certain types of agricultural products from Mongolia to Russia.

The parties also discussed the need to accelerate work on a project to create a railway corridor that will connect Russia, Mongolia and China, which will provide new logistics opportunities for exporters in all directions. Another point that representatives of countries pointed out during the meeting was the avoidance of settlements in the currencies of unfriendly countries. Now Russia and Mongolia conduct mutual settlements in the currencies of friendly countries or in national currencies, and trade turnover in national currencies has doubled compared to last year.

Trade turnover in the agricultural sector between countries is also growing, the parties note. Thus, Russia increased supplies of animal feed to Mongolia by 2.5 times, and grain supplies by 7 times. Let us recall that Mongolia is interested in increasing exports to Russia - the Mongolian government predicted an increase in the volume of trade between the two countries to $5 billion in the next three years, and part of this turnover will be accounted for by agricultural products. In particular, Russia supplies grain, meat, eggs and confectionery to Mongolia, and Mongolia is ready to increase supplies of livestock products, in particular traditional meat products, and live cattle to Russia.