The Eurasian Economic Union (EEU) and China inked the trade and economic cooperation agreement on the sidelines of the 11th Astana economic forum, which has opened today.
The agreement is a non-preferential by nature and does not imply cancellation of duties or automatic reduction of non-tariff barriers, Kazakhstan’s Minister of National Economy Timur Suleimenov said earlier.
At the same time, the agreement will make possible to improve conditions for access of goods to the China market through norms for simplification of trade procedures present in the document, increase the transparency level and improve the level of interaction across all spheres of trade cooperation, TASS reported.
Negotiations between the EEU and China were held on the basis of the decision of the Supreme Eurasian Economic Council of May 8, 2015.
