The EAEU countries plan to introduce electronic trade in agricultural products
The countries of the Eurasian Economic Union (EAEU) have agreed on the introduction of tools and infrastructure for electronic trade in agricultural products, the secretariat of the Eurasian Economic Commission (EEC) reports.
The Agreement on the rules for the issuance, circulation and repayment of warehouse certificates for agricultural products was signed by the heads of government of the EAEU states. The document provides for the creation of a practice of circulation of non-documentary securities in the EAEU, which certify the right of holders to receive agricultural products and grant the right to demand fulfillment of obligations.
The sale of such securities will contribute to the development of electronic commerce and related services, as well as open up the possibility of attracting borrowed funds. The agreement also defines common approaches to the circulation and repayment of warehouse certificates, requirements for the storage agreement and ensuring state control. This integration regulation will ensure mutual recognition of warehouse certificates in the EAEU countries.
The document will enter into force after passing domestic procedures and developing the practice of handling warehouse certificates.
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