The PRC and the EAEU reached mutually acceptable agreements on the exchange of customs information
The representatives of the Eurasian Economic Union (EAEU) and the People's Republic of China reached mutually acceptable agreements on the wording of the Agreement on the exchange of customs information at the fourth round of negotiations in Moscow.
As reported by the Director of the Customs Infrastructure Department of the EEC who also headed the EAEU negotiating team Baktybek Baiserkeev, at the next round of negotiations the parties will finalize the document approval.
As of today, the Parties understand that after the signing of the Agreement the customs authorities of China and the EAEU will exchange information about the products that follow from the PRC in the Union and vice versa.
Such regular data exchange will increase the degree of trust between the countries participating to the Agreement, reduce the influx of counterfeit products, and accelerate customs operations and customs control.
Negotiations of the PRC the EAEU on conclusion of an Agreement on exchange of information on goods and means of international transportation across the customs borders of the EAEU and the PRC were initiated in accordance with the Decision No.66 of the Supreme Eurasian Economic Council dated May 29, 2014. Directives of the negotiation delegation of the Union and its composition were approved by Decision No.101 of the EEC Council dated November 12, 2014.
Press-release at the official Eurasian Economic Commission web-site