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Friday, September 17th, 2021

Basic documents in agriculture state support formed in EAEU

by January 16, 2017 World Sports

The document defines the conditions for distribution and compensation procedure for the country that exceeded the permitted level of support or illegal subsidies, the press service of the EEC reported.

As member of the Board (Minister) for Industry and Agroindustrial Complex Sergey Sidorsky said, the adoption of the order of compensation payment allowed to complete the formation of the normative legal base in the sphere of the EAEU agricultural subsidies.

The procedure was adopted taking into account the methodology of calculation of state support of agriculture and the volumes of notifications, which were previously approved by the EEC Board.

The amount of compensation depends on the type of violation and equal to the amount exceeding the amount of support and the volume of prohibited subsidies.

“Further work in the field of integration of subsidies will be aimed at improving the efficiency of information exchange of “five” countries on providing support and legal support subsidizing agriculture. Furthermore, we have to abandon the inefficient support measures. In this regard, we are working on a common approach to assess the effectiveness of support measures and its impact on the overall agricultural market”, – said S. Sidorsky.

Source: Kazakhstan 2050