Discover Qazaqstan via News and Inspiring Stories

QazMonitor Logo
Facebook Qazmonitor iconInstagram Qazmonitor iconTiktok Qazmonitor iconTwitter Qazmonitor iconTelegram Qazmonitor iconYoutube Qazmonitor icon
  1. Main Page
  2. News
  3. EAEU to Foster Digital Trade of Agricultural Goods
Astana, Kazakhstan • 06 October, 2023 | 10:12

EAEU to Foster Digital Trade of Agricultural Goods

The countries will mutually recognize warehouse certificates for agricultural products

QazMonitor Logo

The countries of the Eurasian Economic Union (EAEU) have signed the Agreement on warehouse certificates for agricultural products, QazMonitor reports citing the Ministry of Trade and Integration.

This document is set to stimulate the growth of online trade in agricultural products across the EAEU countries through the mutual recognition of non-documentary warehouse certificates.

The agreement specifies the requirements for warehouse certificates, regulates the relationship between warehouse certificate holders and warehouses, and outlines a comprehensive list of information to be incorporated into both the warehouse certificate registry and the warehouse registry.

This Agreement provides conditions for agricultural producers from Kazakhstan to obtain loans secured by warehouse certificates within the EAEU countries, as well as to sell their products remotely using warehouse certificates.

Furthermore, market participants will have access to information about the warehouse infrastructure available in the EAEU countries, including the name, type, capacity, storage volume and location of the warehouse.

Partner countries will ensure warehouse control over compliance with the rules for issuing and redeeming warehouse certificates, rules for storing agricultural products, and safety requirements.

The provisions of the agreement will take effect on June 1, 2026. Before that, the EAEU member states will need to adopt the necessary national legal acts.

Only 30% of an article published on The Qazaqstan Monitor website may be used with a mandatory hyperlink provided to indicate the original source. To re-publish the full article, written permission from the editorial is required.