Eurasian Economic Union and China to speed up rail cargo transport through electronic document management
(Photo: KTZ)

The Eurasian Economic Union(EAEU) and China will speed up the transportation of goods by rail through the introduction of electronic document management.

The EAEU and China signed a roadmap aimed at enhancing trade and economic cooperation between the parties, according to the TASS report.

This can be confirmed by the press release of the Ministry of Commerce of China: On February 16, the third meeting of the Joint Committee of the “China-Eurasian Economic Union Economic and Trade Cooperation Agreement” was held in the form of a video conference. Assistant Minister of Commerce Li Fei and Eurasian Economic Commission Trade Commissioner Andrey Slepnev co-chaired. The two sides positively commented on the implementation results of the “Agreement”, and reviewed and approved the “Development Plan for Economic and Trade Cooperation between the People’s Republic of China and the Eurasian Economic Union and its member states (Roadmap)”.

“The Roadmap consists of three parts: 1. On digitization of transport corridors; 2. Dialogue on foreign trade policy issues; 3. Joint scientific study on the impact of various programs for deepening cooperation between the Eurasian Economic Union and China. ” pointed out the Eurasian Economic Union.

“The content of the first part involves the phased transition of the two parties to the exchange of electronic documents for railway freight using electronic digital signatures.” Andrey Slepnev, trade commissioner of the Eurasian Economic Commission believes, “This will greatly simplify trade procedures and speed up the transportation of goods between our countries and China.”

The Eurasian Economic Union was officially launched on 1 January 2015 and its member states include Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia. The Union aims to achieve the free movement of goods, services, capital and labour within the Union by 2025, and to pursue a coherent economic policy.