The International Trade Council is pleased to announce that the agreement enabling safe and secure export of grain, foodstuff, and fertilisers from Ukraine has been extended for an additional four months.
The Black Sea Grain Initiative, a cooperative venture involving Ukraine, Russia, Turkey, and the United Nations, has proven crucial in curbing the global food shortage situation. Initially due to expire on November 18th, this extended agreement ensures the continuity of much-needed resources in the face of global challenges.
"We are pleased with the decision to continue the Black Sea Grain Initiative. This commitment demonstrates the global unity and resolve to address food security, and we appreciate the efforts of all parties involved," states the International Trade Council.
UN Secretary-General António Guterres confirms that the United Nations is wholly committed to eliminating any hurdles to the successful export of food and fertiliser from Russia. The extension of this agreement reinforces the collective intent to provide an effective solution to the current global food shortage.
Russia's Foreign Ministry has confirmed the deal's extension for 120 days, highlighting the commitment of all parties involved.
The International Trade Council commends the diligent efforts of all parties to negotiate this crucial agreement, which has seen more than 11 million tonnes of agricultural products exported from Ukrainian ports since July. Notably, around 40% of these products have been shipped to developing countries, supporting food security in regions of critical need.
Turkish President Tayyip Erdogan has expressed gratitude to all parties for extending the deal through the winter, a sentiment the International Trade Council echoes.
The International Trade Council remains devoted to its mission of promoting international trade and cooperation. We will continue to monitor and support initiatives that contribute to global economic stability and prosperity.
