Trade between EAEU and China exceeds 200 bln USD

By TRN Online, Kathmandu, May 18: Trade turnover between the Eurasian Economic Union (EAEU) and the People's Republic of China exceeded 200 billion US dollar.

The volume of the trade came to light during the third meeting of the joint commission on implementing The Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and the People's Republic of China held online recently.

According to the Ministry of Foreign Affairs of Russia, the matters of technical regulation, application of SPS-measures, customs cooperation, interaction in competition and market protection measures were discussed by the participants in the third meeting of the joint commission on implementing The Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and the People's Republic of China that was held online and chaired by Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, and Li Fei, Assistant Minister of Commerce of the PRC.

An important outcome of the meeting was adoption of the road map on promoting trade and economic cooperation between the EAEU and its Member States, on the one hand, and the People's Republic of China, on the other hand, that includes activities in the field of digitalizing rail transport, exchange of information on strategic planning matters and joint research on the prospects of cooperation development.

Special attention was paid to implementing the industry agenda. In particular, it was agreed that this year the parties would hold joint events to study prospects for cooperation in the fields of public procurement, industry and finance, as well as for veterinary and phytosanitary cooperation, according to the Ministry.

Apart from that the Eurasian cooperation finds new ways to establish and popularize new humanitarian ties. For instance in the period from 7 to 9 of June there will be the Exhibition “Eurasia is our home” hell in the city of Krasnodar (Russia). The exposition is dedicated to the meetings of the Council of Heads of Government of the CIS and the Eurasian Intergovernmental Council.

Preliminary topics of the exhibition areas: industrial cooperation, transport and logistics, digitalization and digital development, finance, tourism and sports, food security and energy. At the same time, the integration component of the submitted projects, solutions, and productions should be an important focus.

The exhibition exposition of medicine and healthcare, transport and logistics, food security, educational, financial, digital, sports and tourism industries will be presented.

It is planned to place the energy industry, industrial cooperation and the nuclear industry with an exhibition exposition of the Ministry of Energy of Russia, Rosatom State Corporation, etc.