The ceremony took place as part of the third meeting of the Joint Commission on Implementing the Agreement on Trade and Economic Cooperation held via videoconferencing on February 16 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.
The document includes three sections: digitalization of transport corridors, dialogs on foreign trade policy issues and conducting a joint study on the effects of various scenarios for deepening cooperation between the EAEU and the PRC.
«The activities of the first section involve a stage-by-stage transition of the parties to electronic document exchange in rail transportation using digital signatures. I am confident that the measure will substantially simplify trade procedures and speed up cargo transportation between our countries,» noted Andrey Slepnev. Moreover, it is envisaged to promote cooperation in the customs field and in veterinary and phytosanitary control. With respect to sea and road transport, it is planned that the parties will exchange their experience in the field of electronic logistics data.
The second road map section is focused on building a lasting dialog on trade policy issues that significantly influence international trade. The Chinese party approved the following discussion areas for 2023-2024: climate agenda; strategies for promoting foreign trade between the EAEU and the PRC; international practices in imposing trade remedies; e-commerce.
The third section stipulates that the EAEU and the PRC academic circles will conduct comprehensive analysis of the effects of various scenarios for deepening trade and economic cooperation between the EAEU, its Member States and China.
The Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and its Member States, on the one part, and the People’s Republic of China, on the other part, was signed on May 17, 2018 and entered into force on October 25, 2019.
The previous, second, meeting of the Joint Commission on implementing the Agreement chaired by Andrey Slepnev, EEC Minister in charge of Trade, and Wang Shouwen, Assistant Minister of Commerce of the PRC, was held via videoconferencing on December 21, 2021.