On November 18, the Deputy Ministers of Agriculture of Russia Sergey Levin and Oksana Lut took part in a business forum on Russian-Arab cooperation in food security and Opportunities for trade and investment.
Representatives of 25 countries attended the event. The meeting was focused on ensuring food security and strengthening trade and economic cooperation in agriculture between Russia and Arab countries.
Oksana Lut pointed out that ensuring food security is becoming one of the priorities of international cooperation in the current situation with many countries facing a shortage of basic foodstuffs.
The increase in trade with Arab partners is a clear example of successful cooperation in the agricultural sector. Over the past five years, agricultural trade between the countries has grown by approximately 20% and reached 5.4 billion dollars in 2019.
Sergey Levin noted that Russia is one of the largest suppliers of agricultural products to the Arab market. Since the beginning of the year, exports to the Arab countries have increased by 17% and exceeded 3 billion dollars. The key export products are grain crops, vegetable oils, confectioneries and poultry.
Russia also has a significant potential to increase the volume of agricultural exports to Arab countries. Increased yields, technology development and an expansion in agricultural land area will increase shipments of domestic wheat.
The halal products market is also promising. Currently, Russia supplies such products to the Gulf States, Middle East and North Africa.
"The cooperation development has become crucial due to the pandemic. The quarantine restrictions in numerous countries have reminded of the importance of establishing smooth supply chains for food security. Russia is open to become a reliable partner for Arab countries in the supply of a wide range of agricultural products, including those with a high degree of processing," Sergei Levin said.