EEU-China economic cooperation agreement to get functional in early 2019
13 September 2018
MINSK - Inked in May 2018, the agreement to cooperation in business and trade between China and the Eurasian Economic Union (EEU, comprises Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan) will start functioning in early 2019.
Trade Minister at the Eurasian Economic Commission (EEC) Veronika Nikishina made a statement to this effect at the Eastern Economic Forum on Sep 11.
The trade deal with China will make it possible for investors to make strategic decisions on a predictable basis.
The parties are currently deciding which particular projects will be implemented in the framework of the EEU-China business cooperation agreement, Nikishina informed. In her words, EEU member states have already highlighted priority projects in the context of the Chinese government’s One Belt One Road initiative. As previously reported, China in 2013 announced a new economic development concept entitled “One Belt, One Road”, which aims to create infrastructure and build links between Eurasian countries. The concept includes the Silk Road Economic Belt initiative and 21st Century Maritime Silk Road Project. The idea is to create a trade corridor for direct supplies of goods from East to West on preferential terms.