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Accredited in the Ministry of Agriculture of the Republic of Kazakhstan
Accredited in the National chamber of entrepreneurs "Atameken" of the Republic of Kazakhstan
A common agricultural market is being created in the EAEU 02.07.2024 в 11:35 44 просмотра

In the EAEU countries, work is underway to ratify the Agreement on Warehouse Certificates for Agricultural Products. In Kazakhstan, this document is being considered by the Mazhilis of Parliament, the press service of the Ministry of Trade and Integration reported.

“The agreement creates conditions for agricultural producers from Kazakhstan to receive a loan secured by a warehouse receipt in the EAEU countries, and also sell their products remotely by selling warehouse receipts. Also, Kazakh businesses will have access to information about the existing warehouse infrastructure in the EAEU countries, including information on the name, type, capacity, storage volume and location of the warehouse,” explained the Ministry of Trade.

The department noted that de facto, of all the EAEU member states, such circulation of warehouse receipts has been built only in Kazakhstan (grain receipts). At the legislative level, taking into account many years of experience in the circulation of warehouse receipts for agricultural products - grain receipts for grain - a clear system has been built to guarantee the fulfillment of obligations under issued warehouse receipts.

In this regard, the Kazakh side invites the EAEU countries to take Kazakhstan’s experience in this area as a basis when developing requirements for a system for ensuring the fulfillment of obligations under warehouse receipts for agricultural products. This measure will ensure mutual recognition and sustainable circulation of warehouse receipts within the EAEU, as well as the availability of financial resources for their holders.

“The provisions of the Agreement will be effective from January 1, 2026. Until this time, the EAEU countries need to adopt the necessary national legal acts and develop the practice of handling warehouse receipts. In general, the implementation of the Agreement will facilitate the promotion of Kazakh products to the markets of partner countries in the EAEU, and therefore will have a positive impact on the development of agriculture in Kazakhstan,” the Ministry of Trade concluded.

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