On November 12 at the EEC headquarters, Bakytzhan Sagintayev, Chairman of the Eurasian Economic Commission's Board, held a working meeting with Yan Dong, Vice Minister of Commerce of the PRC.
During the meeting they considered the results and prospects of interaction between the Eurasian Economic Union countries and China under the Trade and Economic Cooperation Agreement.
Today, the EEC hosted the fifth meeting of the EAEU – China Joint Commission that noted the successful completion of the plan for implementing the Agreement. The parties came to a conclusion that the road map needs to be updated. It is planned to start work in this regard in the nearest future."The People's Republic of China is a key foreign economic partner of the EAEU States. By late 2024, a new record was set in the mutual trade: 291 bn dollars. The share of the PRC was 35% of the total Union's trade turnover with third countries," Bakytzhan Sagintayev emphasized.
The meeting resulted in the parties expressing confidence that joint efforts will ensure further trade growth, sustainable development of the economic dialogue and favorable conditions for businesses of the EAEU countries and the PRC."I deem it necessary to fill the road map with concrete measures to harmonize standards and facilitate trade in the priority areas," the Head of the EEC Board noted.
The EAEU – China Joint Commission was established in accordance with article 12.1 of the Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and its Member States, of the one part, and the People's Republic of China (PRC), of the other part, signed in 2018. The co-chairs of the Joint Commission are Andrey Slepnev, the EEC Minister in charge of Trade, and Yan Dong, Vice Minister of Commerce of the PRC.