Agreement on trade
and economic cooperation between the Eurasian Economic Union (EAEU) and the
People’s Republic of China (PRC) was signed on May 17 within the framework of the Astana Economic Forum.
The Agreement on trade and economic
cooperation between the EAEU and the PRC was affixed with the signatures of the
Chairman of the EEC Board Tigran Sargsyan, the Vice Prime Minister of the
Republic of Armenia Tigran Avinyan, the First Deputy Prime Minister of the
Republic of Belarus Vasily Matyushevsky, the First Deputy Prime Minister of the
Republic of Kazakhstan Askar Mamin, the Vice Prime Minister of the Kyrgyz
Republic Zamirbek Askarov, the Deputy Head of the Government of the Russian
Federation Dmitry Kozak and the international trade representative of the PRC at ministerial level Fu Ziying.
During the panel
discussion “How to create the Single Economic Space of Eurasia?” its
participants discussed effects of signing of the agreement, alternatives of
subsequent development of interaction, in particular, in the context of
integration between the EAEU and Chinese “One Belt – One Road” initiative as
well as new cooperation projects combining technologies, raw materials and
capitals of all the Union countries and China.
Tigran Sargsyan
emphasized in his address that all calculations and arguments which the EAEU was
guided by have proved correct.
“Negotiation process demonstrated the relevance of all subjects we touched upon
and interest of our countries in deepening and expanding interaction with the PRC”
– he stated.
Commodity turnover
between the EAEU countries and China in 2017 amounted to more than 100 bln US
dollars. Besides, exports from the EAEU to the PRC raised by 40% last year. The
Union countries find exports diversification to be of fundamental importance.
Currently, it includes not only primary goods, but also mechanical engineering
products.
The Chairman of
the EEC Board mentioned that the current driving force in the world economy is
Asia, and all the EAEU countries are interested in entering this market. “Increase in consumption in the PRC within the
new concept of economic growth with a focus on domestic consumption means that
our economic entities must be ready to ramp up exports to the People’s Republic
of China and to the Asia region on the whole, - he thinks. – We must learn to live amid strong
competition”.
The agreement
opens new opportunities for economic entities of the Union countries. “Having identified our comparative
advantages in this competitive environment we set up clear-cut interaction
framework for them, though this is a non-preferential agreement. It seems to us,
that new framework enshrined in this agreement may boost economic growth of our
countries and help us take our strategic advantages”, - Tigran Sargsyan
underlined. In his opinion, this framework gives a powerful impetus for
implementation of specific megaprojects with the understanding thereupon having
been reached at the meeting of the Supreme Eurasian Economic Council in May
this year.
The First Deputy
Prime Minister of the Republic of Kazakhstan Askar Mamin placed a particular
emphasis on cooperation with China in the sphere of transport infrastructure
development. “Over the last years Kazakhstan
has been actively investing and has conducted a broad-scale modernization of
its transport infrastructure. It is also true for motorway construction. A part
of Western Europe – Western China corridor was completed two years ago.
Nowadays we are waiting for the Russian part to be completed, and so, this will
form a single corridor which will connect Western China and Western Europe by
transit through our countries”, - Askar Mamin told.
Another line of
activity is development of railroad infrastructure. By 2020, Kazakhstan plans
to receive 5 bln US dollars from transit through its territory. He noted that
Kazakhstan is already working under this project within the EAEU with the
Russian Federation and the Republic of Belarus and expressed his hope that
Kyrgyzstan and Armenia will soon join the project.
“In the EAEU context it appears that the consistency
of interaction of our countries and expansion of international and multi-format
cooperation of the Union with third countries is the future we should strive
for”, - the Vice Prime Minister of the Republic of Armenia
Tigran Avinyan stated. At the same time, he voiced an opinion that integration in
the region gets more and more global.
Europe may also join the process.
He also drew
attention that Armenia has over many centuries been an element of the Silk
Road. “As of this moment we also take
part in the Silk Road Economic Belt project, in particular, construct motorways
under the North-South project, and implement an “open skies” policy and a
number of other projects”, - Tigran Avinyan reported.
The First Deputy
Prime Minister of the Republic of Belarus Vasily Matyushevsky emphasized that
Belarus has traditionally been a follower of multi-level and multi-speed
integration, economic interaction as well as integration of integrations
between the EU, the EAEU and the PRC which may become a response to global
challenges. The basis for such integration is a global infrastructure project. “Our task is to create an efficient
transport and logistics corridor”, - he explained. “From our viewpoint, we may get the maximum effect, if we speak of
establishment of digital transport and logistics corridors and, in the first
turn, the West – East corridor”, - Vasily Matyushevsky reported.
The First Deputy
Prime Minister of the Republic of Belarus told that Belarus within “One Belt –
One Road” initiative jointly with the PRC has already implemented the project
for the creation of Belarusian-Chinese industrial park which will serve as a
global hub featuring digitalization elements. The composition of this park’s
participants has also included a European hub.
Thus, the basis for integration of integrations is being created, Vasily
Matyushevsky considers.
The Vice Prime
Minister of the Kyrgyz Republic Zamirbek Askarov asserted that China was a
significant investment partner of Kyrgyzstan having been successfully
implementing projects in the country in the course of many years. More than 400
enterprises are already functioning in the Republic with Chinese participation,
there is active cooperation in many industry branches including services
sector, processing, mining industry, and agriculture. “I believe that the today’s conclusion of the agreement will contribute
to the cooperation between our countries in all sectors”, - the Vice Prime
Minister of the Kyrgyz Republic summarized.
The Deputy Head of
the Government of the Russian Federation Dmitry Kozak called the agreement
signed between the Union and the PRC to be a historic one, because it ensures
such interaction mechanisms in various areas of state regulation which enable maximum
consideration of interests of the Union in its entirety and those of each its
country in particular, as well as business interests, transparency and
predictability of regulation at both national and supranational levels, and issues
of technical, sanitary and phytosanitary regulation, customs cooperation have all
been reflected in it. “I am absolutely
sure that this agreement will become a reliable foundation for subsequent construction
of the Greater Eurasian Partnership which cannot be built up without the PRC's
assistance”, - Dmitry Kozak resumed.
The Deputy Head of
the Russian Government underlined that China is the leading trade and economic
partner for Russia. “No nation of the
globe is supposed to have such a diversified coordination mechanism like the
one we have with China”, - Dmitry Kozak reported.
The international trade representative of China Fu Ziying noted that five years ago Xi Jinping came up with the “One Belt – One Road”
initiative, and today against the background of deglobalization and
protectionism a multilateral agreement was signed. “Cooperation within the framework of “One Belt - One Road” and the EAEU
projects is the key area of our interaction. Not only is this very important
for facilitating trade procedures between our countries. I think that such
signing plays a great role for promoting growth of our countries’ economies and
enhancing living standards of our peoples”, - Fu Ziying highlighted.
The Chinese representative placed an emphasis on the priority of parties’
cooperation in the sphere of e-commerce. In his opinion, the digital economy
era will create favourable conditions for future trade between China and the
EAEU Members.
“The signed
agreement names a whole range of sectors being important for both the EAEU countries
and the PRC in the future. Cooperation must give an answer to the question
concerning the center line of interaction of the EAEU and China in the long
run, because infrastructure is created for almost as long as perpetuity”, - the moderator, the President of the EAEU Business
Council Viktor Khristenko, summed up the discussion.