MOSCOW, October 18. /TASS/. The Business Council of the Eurasian Economic Union (EAEU) signed a memorandum of cooperation with the China Council for the Promotion of International Trade (CCPIT), which anticipates creation of the EAEU - China business dialog, Executive Secretary and Member of the Presidium of the Business Council Sergey Mikhnevich told TASS.

"The standing EAEU - China dialog was established in accordance with the memorandum. The main task of the established institution is to stimulate development of business ties of EAEU member-countries and China with the use of a wide range of instruments, from establishing the exchange of information in respect of regulation and conditions of doing business to practical assistance in eliminating existing restrictions, promoting interests of business communities, organizing business events, facilitating the exchange of technologies and know how, and stimulation of mutual investments," Mikhnevich said.

A joint action plan will be prepared to implement tasks in the memorandum, which will comprise consideration of issues related to identification of existing restrictions and preparation of proposals on development of trade and economic ties and cooperation. Furthermore, preparation of activities aimed at increasing awareness of the business about opportunities and conditions of cooperation between the EAEU and China is stipulated.

The full-scale launch of a new mechanism will contribute to expansion of business involvement in trade-economic and investment cooperation between the EAEU member-states and China. This will facilitate diversification of business ties in Greater Eurasia, Mikhnevich added.