Veronika Nikishina, the minister for trade of the Eurasian Economic Commission (EEC), said that the agreement between EAEU and China is the first step toward potential creation of a free trade area.
The Eurasian Economic Union (EAEU) and China could sign an agreement on trade and economic partnership in the middle of 2018, Veronika Nikishina, the minister for trade of the Eurasian Economic Commission (EEC), told Sputnik in an interview.
"We are discussing trade and economic cooperation between EAEU and China… The agreement between EAEU and China is the first step toward potential creation of a free trade area… We have achieved significant progress in this process. In the near future I am planning to hold a meeting with China's Commerce Minister Zhong Shan and to discuss potential terms of finalizing the talks. These terms depend not only on us, but also on the partners. I think it is possible that we would be able to sign the accord in the middle of the next year," Nikishina said during the St. Petersburg International Economic Forum (SPIEF) earlier in the month.
The official added that trade between China and the EAEU states had been taking place within the framework of bilateral ties and the rules of the World Trade Organization (WTO) for the member states of the trade organization.
SPIEF, a major global platform for communication between business representatives and discussion of crucial economic issues, took place in Russia’s second largest city on June 1-3.