Tashkent, Uzbekistan (UzDaily.com) -- The day before, a meeting of the Joint Commission on trade and economic cooperation between the EAEU and China was held, formed in order to increase the efficiency of interaction within the framework of the Agreement on trade and economic cooperation between the EAEU and the PRC dated 25 October 2019.

It is noted that the PRC’s share in the EAEU’s foreign trade turnover is 20%. At the same time, the trade turnover between the EAEU and the PRC in 2020 decreased by 6.3% and reached US$79.1 billion. China’s investments in the EAEU member states in 2020 showed an increase of 8%, amounting to US$700 million.

The parties reached an agreement to develop a "roadmap" for the development of trade and economic cooperation, which includes the following areas: a) trade in agricultural products; b) development of transport and logistics infrastructure; c) modernization of the infrastructure of border checkpoints; d) digitalization and "smart technologies".

At the same time, when developing the "road map" it is planned to pay attention to the following factors.

First, the positive experience of the Khorgos International Center for Border Cooperation, which, as a nodal center of the economic belt of the Silk Road, connects the PRC with Central Asia and Europe through transport infrastructure, trade, financial logistics and cultural exchanges.

Second, the expansion of trade in agricultural products with an emphasis on resolving issues that limit the access of agricultural products from Russia and pulses from the Kyrgyz Republic to the Chinese market.

Thirdly, trade protection measures, the exchange of information through the mechanisms of the Agreement on products entering the markets of the EAEU and China in violation of mandatory technical requirements, and other issues of technical regulation limiting the mutual circulation of goods.

In general, experts believe that the roadmap of the EAEU and the PRC can become a tool for the practical development of cooperation and help build work between meetings of the Joint Commission in specific areas, and its implementation will create an environment for regional economic integration. This, as experts note, can also serve to form the Greater Eurasian Space initiated by Moscow by linking projects within the EAEU and One Belt, One Road.