Ukraine and Russia may create the Black Sea Grains Council to coordinate the global grain market, the Russian Agricultural Ministry press service informed following talks between deputy agriculture minister of the Russian Federation Ilya Shestakov and deputy agrarian policy and food minister of Ukraine Oleksandr Sen.

"The main issue on agenda was the establishment of the Black Sea Grains Council - a coordinating body whose main task will be the information exchange in order to ensure competitive advantages of Russia and Ukraine in the world grain market," the statement says.
It is noted that the establishment of the Council will also contribute to the total cereal production in the member countries, the strengthening and development of export opportunities, including more efficient use of export infrastructure and the export costs reduction.

In the long term, the Council’s activity will allow working out the common rules of trade, common approaches to the grain export, conducting a coordinated investment policy, implementing, if necessary, mutual grain supplies, carrying out joint projects to develop the grain market infrastructure in the third countries.

To realize this initiative, the parties agreed to include in the agenda of the Russian-Ukrainian Sub-Commission on Agriculture next meeting the issue of renewal of the Interagency Working Group for the coordinated development of the grain market in Russia and Ukraine.

The meeting is expected to take place on October 12, 2012 in Moscow under the chairmanship of the agriculture minister of the Russian Federation Nikolai Fyodorov and agrarian policy and food minister of Ukraine Mykola Prysyiazhniuk.

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