Kyrgyzstan Ratifies Eaeu-china Agreement on Trade, Economic Cooperation

AKIPRESS.COM - President Sooronbai Jeenbekov has ratified the trade-economic cooperation between the Eurasian Economic Union member states from one side and China from the other.

The document was signed by Chinese Vice-Minister of Commerce Fu Ziying, Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan and representatives of the EAEU members at the Astana Economic Forumon 17 May 2018. The agreement covers 13 aspects such as customs cooperation, trade facilitation, intellectual property rights, sectoral cooperation and government procurement, including new topics like e-commerce and competition. China and the EAEU agreed to further simplify procedures of customs clearance and cut costs of trade in goods by strengthening cooperation and exchange of information between each other.

The agreement is expected to take effect as early as the beginning of 2019. Marking a new stage where China's trade and economic cooperation with the EAEU has upgraded from being driven by projects to being guided by rules and regulations, the agreement is seen as a...