Arzybek Kozhoshev attended China-Russia Industrial and Investment Cooperation Forum

On April 17, Arzybek Kozhoshev, Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission, attended the China-Russia Industrial and Investment Cooperation Forum.

“Nowadays, the People's Republic of China is one of the Union's main strategic partners. At year-end 2022, the trade turnover between the Eurasian Economic Union countries and the PRC exceeded 200 bln dollars, and the share of China in the EAEU's total foreign trade increased to 23%,” the EEC Minister noted.

  Arzybek Kozhoshev has expressed a belief that developing transport infrastructure in the Member States' territory in the East-West and North-South directions is of particular importance in intensifying work with the PRC, including as part of coupling with the Chinese Belt and Road Initiative.

Arzybek Kozhoshev separately noted the importance of the Priority Action Plan for digitizing freight carriage by rail between the EAEU and the PRC. The Plan envisages measures to switch to a comprehensive electronic technology for transporting goods by rail during bilateral and transit transportation between the EAEU States, and in the future - with third countries, in particular with the People's Republic of China.

Besides, the speech touched on the formation of an ecosystem of digital transport corridors aimed at developing relations between the EAEU countries and China within the Agreement on Trade and Economic Cooperation, as well as issues of attracting investments and the importance of innovations in developing transport and logistics activities.

Arzybek Kozhoshev has informed representatives of the Chinese business community that transportation activities are planned to be jointly supported by the Commission and the Union countries by implementing such measures as the launch of digital customs and digital trade, marking of goods, and ensuring the traceability of goods and transport.

The EEC speaker gave a brief view of the EAEU integration projects in the energy sector, touching, first of all, on establishing the Union's common electric power markets. He greatly emphasized the work on using renewable energy sources and the associated decarbonization process, as well as the need to develop and implement joint low-carbon technologies in the EAEU.

In conclusion, Arzybek Kozhoshev invited representatives of the Chinese side to take part in the Eurasian Economic Forum and the Eurasian Congress in June this year in Sochi.