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China’s leader: One Belt One Road and EAEU synergy to boost region’s development

On May 17, 2018, the EAEU and China signed an agreement on trade and economic cooperation

Chinese leader Xi Jinping Vladimir Smirnov/TASS

Chinese leader Xi Jinping

© Vladimir Smirnov/TASS

ST. PETERSBURG, June 7. /TASS/. The synergy of China’s One Belt One Road initiative and the Eurasian Economic Union (EAEU) will give an impetus to economic integration in the region and facilitate its sustainable development, Chinese leader Xi Jinping said at a plenary session of the St. Petersburg International Economic Forum (SPIEF-2019) on Friday.

Read also

Xi Jinping: Russia and China staying in tune with the times

"We have agreed on linking the One Belt One Road initiative with the concept of the Greater Eurasian Partnership put forward by President [of Russia Vladimir] Putin. They can quite supplement each other, which, as I am deeply convinced, will give a strong impetus to regional economic integration in the interests of general sustainable development," the Chinese leader pointed out.

On May 17, 2018, the EAEU and China signed an agreement on trade and economic cooperation. The deal is aimed at creating conditions for improving mutual trade between the EAEU member states and China. However, it does not stipulate cancelling duties or automatically lowering non-tariff barriers.

The 2019 St. Petersburg International Economic Forum is being held on June 6-8. The forum’s motto this year is "Creating a Sustainable Development Agenda". The organizer for SPIEF-2019 is the Roscongress Foundation. TASS is a media partner, the official photo hosting agency and the operator of SPIEF’s presentation zones with support from multinational firm EY, and the Foreign Investment Advisory Council in Russia.

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