EAEU-China: New stage of cooperation
The export of Eurasian Economic Union (EAEU) grew by 40 per cent in 2017. The Union’s trade with China totaled US$100 billion and the value is expected to double. As part of the Astana Economic Forum, representatives of the EAEU and China signed an agreement on trade and economic cooperation. The document sets a high standard of regulation in various fields such as facilitation of the international trade procedures as well as protection of intellectual property rights. The priority cooperation areas are agriculture, energy, transport, information technology infrastructure and financial sector. The Chinese partners were offered 40 projects related to the transport industry. According to the expert of the Institute of East European, Russian and Central Asian Studies Zhang Ning, the agreements demonstrate the growing level of trust between the EAEU member countries and China.
ZHANG NING, DIRECTOR, ‘ONE BELT, ONE ROAD’ RESEARCH CENTER:
-This agreement is very important. It will serve to strengthen ties between China and Kazakhstan, as well as among the Eurasian Economic Union member countries. It will facilitate the implementation of trade projects and joint investment projects. This agreement is a practical step towards trade growth between China and the EAEU. Secondly, it is a testimony of the growing mutual trust between the parties.