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The economic and trade cooperation agreement signed between China and the Eurasian Economic Union came into effect

Editor:海宁瑞家纺织品有限公司 │ Release Time:2019-01-11 

According to the Kyrgyzstan Tazabek News Network reported on December 6, the Eurasian Economic Supreme Council meeting was held in St. Petersburg, Russia. The meeting decided that the Chinese people signed by China and the Eurasian Economic Union and its member states on May 17, 2018. The Agreement on Economic and Trade Cooperation between the Republic and the Eurasian Economic Union came into force. In addition, the meeting also passed an interim agreement signed on May 17, 2018 between Iran and the Eurasian Economic Union and its member states to establish a free trade zone.


During the Astana Economic Forum in Kazakhstan on May 17, 2018, Fu Ziying, deputy and deputy director of the International Trade Negotiation of the Ministry of Commerce of the People's Republic of China, and the Chairman of the Executive Committee of the Eurasian Economic Commission, Sarki and the Eurasian Economic Union ("Africa") The representatives of the member states signed the Agreement on Economic and Trade Cooperation between the People's Republic of China and the Eurasian Economic Union. The Agreement covers 13 chapters on customs cooperation and trade facilitation, intellectual property, sectoral cooperation and government procurement, including new topics such as e-commerce and competition. The two sides agreed to further simplify customs clearance procedures and reduce the cost of trade in goods by strengthening cooperation, information exchange and exchange of experience. The Agreement aims to further reduce non-tariff trade barriers, improve the level of trade facilitation, create a favorable environment for industrial development, promote the in-depth development of economic and trade relations between China and its alliances and its member states, and bring benefits to both enterprises and people. Economic and trade cooperation provides institutional guarantees.


In May 2015, President Xi Jinping and Russian President Vladimir Putin signed the "Joint Statement on the Construction of the Silk Road Economic Belt and the Construction of the Eurasian Economic Union" in Moscow, and announced the initiation of negotiations on the economic and trade cooperation between China and the Union. Since the first round of negotiations in October 2016, the two sides successfully concluded the negotiations on October 1, 2017 through five rounds of negotiations, three working group meetings and two ministerial consultations.


The Eurasian Economic Union was established in 2015. Currently, Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia are all important partners in the “Belt and Road” initiative. China and the Union and its member states have strong economic complementarities and great potential for trade cooperation. In 2017, my trade with the member states of the Union reached 109.4 billion US dollars. The "Agreement" is an important institutional arrangement for economic and trade relations between China and the Union for the first time. It marks a new stage in the economic and trade cooperation between China and the Union and its member states, which is driven by the project and promotes the construction of the "Belt and Road" and the Eurasian Economic Union. Building docking cooperation is a milestone.


The connection between the Eurasian Economic Union and the “Belt and Road” construction has enabled Chinese companies to further develop their export potential. The logistics, warehousing and related services of the Eurasian Economic Union and the EU border have great potential for development, and will also be a certain degree for Chinese companies. Facilitate exports to the EU. China's export products will further base on the market of member countries of the Eurasian Economic Union and radiate the market of the EU and other CIS countries.