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EAEU, China reach historic agreement

2 October 2017 22:19

ASTANA. KAZINFORM On October 1 in Hangzhou China's Commerce Minister Zhong Shan and Eurasian Economic Commission (EEC) Trade Minister Veronika Nikishina signed a joint statement on finalizing the negotiations process on the trade-economic agreement between the Eurasian Economic Union (EAEU) and China.

The sides agreed to organize a binding legal adjustment of the documents to begin preparing them for singing in the shortest time possible.

"The agreement on trade and economic cooperation between the EAEU and China is a long-awaited, historic event for all interested parties. It will be the first step towards building a mechanism for effective and long-term cooperation between the Eurasian Economic Union and China, and will also serve as an incentive for the development of trade ties between all the Union member states and China," Veronika Nikishina said.

The parties noted that the talks were held in a friendly and constructive atmosphere, which allowed them to be completed in just one year. Both the EAEU and China intend to use the agreement to stimulate mutual trade and enter a new level of trade and economic relations.