APEC trade ministers oppose curbs on food exports

September 5, 2012 RBTH, Interfax

The trade ministries of the Asia-Pacific Economic Cooperation forum member-countries oppose curbs on food exports being introduced in individual states in view of the food crisis, Russian Economic Development Minister Andrei Belousov told reporters after the first day of the APEC summit's ministerial conference in Vladivostok.

"Many countries reacted to the food crisis by limiting food exports. This is a negative occurrence. The ministers have issued an almost unanimous call to combat this trend," he said.

"The food markets are entering yet another instability zone, which is due to an unprecedented drought in the United States. Food prices have started their climb already," Belousov said.

The ministers have acknowledged that in addition to increasing investment in agriculture, characteristic of such situations, "protectionism should be restricted," he said.

The ministers agreed to exchange information on the state the markets are in, and backed the idea of investing more in infrastructure, including in food storing projects and the formation of a food reserve.

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