Eurasian Economic Commission Discusses Digital & Electronic Customs Transit with China
Customs cooperation between the Eurasian Economic Union and China were discussed at a meeting of the working group at the headquarters of the Eurasian Economic Commission. It was attended by representatives of the customs block of the Commission and authorized officials of the EAEU countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
The moves are trade significant as China has a Free Trade Agreement with the EAEU. Currently non-preferential, there have been discussions earlier in the year, most notably between Beijing and Moscow, to look into redesigning the current EAEU-China FTA and introduce tariff reductions in certain sectors.
Sergey Vladimirov, Director of the EEC Department of Customs Legislation and Law Enforcement Practice, said that “In the current conditions of the development of Eurasian integration, building productive relations with the PRC is an important area of work for developing the trade and economic potential of the Union States. At the same time, customs cooperation is given an important role in terms of organising effective customs regulation and facilitation of trade procedures.”
The working group determined the list of issues for discussion with Chinese partners at the upcoming meeting of the Subcommittee on Customs Cooperation. Among them are the development of the institution of digital (intelligent) customs and the introduction of advanced customs technologies, the exchange of information on strategic documents and concepts of such customs, electronic customs transit, as well as the exchange of information on goods and vehicles for customs purposes.
If implemented, these measures will increase the effectiveness of customs transit between China and the EAEU nations, making it speedier. That itself can be expected to lead to a boost in multilateral trade as well as assisting with any future tariff reduction trade policies.
Source: Tazabek (Kyrgyzstan) with additional commentary by Chris Devonshire-Ellis
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