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The EEU and China signed an agreement on trade and economic cooperation

The EEU and China signed an agreement on trade and economic cooperation

The Eurasian Economic Union (EEU) and China signed an agreement on trade and economic cooperation on May 17, 2018.

The agreement does not provide for automatic cancellation of duties or reduction of non-tariff barriers. However, the agreement will improve the conditions for export to the Chinese market.

The trade turnover between the EEU and China in 2017 constituted over 100 billion USD. Exports from the EEU to China increased by 40% last year.

The members of the EEU at the moment are:

1) Russia

2) Armenia;

3) Belarus;

4) Kazakhstan;

5) Kyrgyzstan.