The G8 Summit has adopted a decision to remove all restrictions that used to limit food exports. Russian experts believe that the move will not only fail to resolve the food shortage problem but will worsen it instead
One of the main issues the G8 Summit discussed was food shortage crisis. The member countries have concluded that those countries that artificially restrict their exports are to blame for the crisis.
The G8 member countries consider it imperative to remove all the restrictions on food exports, a joint statement by the member-states says.
The move has aroused a mixed reaction among the experts. According to Russian specialists, the decision was unnecessary.
“If a country has an export potential and its domestic market is well balanced, the country exports its products without any difficulty. However, when there is a threat to the domestic market, the country imposes export restrictions, usually in the form of taxes, quotas or even a direct ban on certain exports,” Russian expert Andrei Sizov, head of the Sovecon Group of market analysts, says.
“Export restrictions exist in such countries as Argentina, Kazakhstan, the EU, etc. It is unwise to talk about lifting all restrictions. Apart from that, the G8 member countries will never do it themselves. The call is addressed to the developing countries, including Russia, Kazakhstan, and Ukraine in order to improve Europe’s and America’s well-being,” the expert added.
Yekaterina Shokhina
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