Ukraine and Russia will be able to create the Black Sea Grain Board for coordination of activities on the world grain market.

The press service of the Russian Agriculture Ministry informed by results of negotiations of Russian Deputy Agriculture Minister Ilya Shestakov with Deputy Agrarian Policy and Food Minister Oleksandr Sen.

"The main item of the agenda was the issue of creation of the Black Sea Grain Board - a coordinating body, the main task of which will be exchange of information with the aim of ensuring competitive advantages of Russia and Ukraine on the world grain market," the statement reads.

It is noted that creation of the Board will also promote increase of total production of grain cultures in member countries, strengthening and development of export possibilities, including rising effectiveness of the use of export infrastructure and reduction of export expenses.

In the long-term perspective, the Board activities will allow developing unified trade rules, common approaches as regards grain exports, coordinated investment policy, mutual grain supplies if necessary, realization of joint projects on development of the grain market infrastructure in the third countries.

For realization of the designated initiative, the parties took a decision to include an issue about resumption of activities of the Interdepartmental Working Group on coordinated activities of the grain market of Ukraine and Russia into the agenda of the current meeting of the Russian-Ukrainian Subcommittee for agroindustrial complex development.

It is planned that the designated meeting will be held October 12, 2012, in Moscow, presided by the Russian Agriculture Minister Nikolai Fedorov and Agrarian Policy and Food Minister of Ukraine Mykola Prysiazhniuk.

Ukrinform