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EAEU and China Ready to Move to Negotiations on Agreement on Trade and Economic Cooperation

EAEU and China Ready to Move to Negotiations on Agreement on Trade and Economic Cooperation


On June 25 in Beijing, in the presence of the Presidents of the Russian Federation and the People's Republic China, the Member of the Board - Minister in charge of Trade of the Eurasian Economic Commission Veronika Nikishina and the Minister of Commerce of the People's Republic of China Gao Hucheng signed a joint declaration on transition to the negotiation stage for development of the Agreement on Trade and Economic Cooperation between the Eurasian Economic Union (the EAEU) and the PRC.

"We have completed the phase of preparation for negotiations, the delegations of the EAEU and China have received the necessary mandate and will sit at the negotiating table already in the coming months," Veronika Nikishina explained after the meeting.The joint declaration reflects the agenda of future negotiations: The parties plan to comprehensively develop bilateral trade rules in a number of key areas, including technical regulations, customs regulations, intellectual property and others. In addition, we intend to create new multi-level institutions for cooperation, support and development of trade and cooperation."

At the meeting preceding the signing of the joint declaration, the Ministers discussed the issues of arrangement of negotiation process and preparation of the Agreement text.

The negotiations will be attended by representatives of the Eurasian Economic Commission, the national governments of the countries of the Eurasian Union, various departments of the Chinese Government.

Sections of the future Agreement will be elaborated by several working groups divided according to the regulatory principle, as well as a working group focused on the matters of industrial cooperation, promotion of cooperation projects.

The Ministers agreed that already in July they hold the first meeting of the experts of the negotiating delegations.