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EAEU, China sign trade and economic cooperation agreement

Economy 17.05.2018 | 11:10
An archive photo
An archive photo

MINSK, 17 May (BelTA) – The Eurasian Economic Union and China signed an agreement on trade and economic cooperation, TASS has reported.

The agreement is a non-preferential by nature and does not imply cancellation of duties or automatic reduction of non-tariff barriers, Kazakhstan's Minister of National Economy Timur Suleimenov said earlier. At the same time, the agreement will improve conditions for access of goods to the Chinese market through the norms for simplification of trade procedures envisaged in the document, increase the transparency and improve the level of interaction across all areas of trade cooperation.

The negotiations between the EAEU and China were held on the basis of the decision of the Supreme Eurasian Economic Council of 8 May 2015. The negotiations involved representatives of the Eurasian Economic Commission, the national governments of the EAEU member states, experts and officials from Chinese agencies.

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