EEC sees ways to increase exports to China
MINSK, Jul 6 - PrimePress. The Eurasian Economic Commission (EEC) outlined possibilities for an increase in exports to China in its analytical report “Conjugation of Eurasian Economic Union (EEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) Development Strategy and China’s Belt and Road Initiative” posted on the EEC’s website.<br> <br> The report identifies the categories of goods that would be promising in terms of EEU exports to China, primarily the products that the EEU actively export to third countries, but do not supply to China, which China purchases from third countries instead of the EEU. The list includes automotive industry products (some types of vehicles, bicycles and parts for them), pharmaceuticals and medical products (medicines, lenses, orthopedic devices); dishwashers; textile products (carpets, polyurethane-impregnated materials), iron products, chemical products, some types of meat, fabrics, and yarn from natural and synthetic fibers.<br> <br> The EEC also sees a potential in trade in commodities that the EEU supplies to the PRC in insignificant amounts compared with supplies to third countries, particularly, cheese, immunological products, agricultural machinery, milk and cream, etc.<br> <br> Opportunities for trade arise, among other things, because of the trade war between the U.S. and China. “Additional customs duties on U.S. products temporarily increase the competitiveness of EEU goods, to which restrictions do not apply, for example, of parts for agricultural machinery, acyclic esters, non-seeded oats, urea resins and others, reads the report.<br> <br> The EEU member states have not had time yet to deliver on the potential of supplies of soybeans, cotton fabrics, knitted fabrics and clothing, facing tiles, tractors for agriculture, watch faces and some other commodities to China.<br> <br> The parties should address the issue of using currencies of third countries, which puts obstacles to trade and economic cooperation between the EEU and PRC. A gradual transition to national currencies in mutual payments and investments would help build an independent, stable and secure regional financial and payment system. A separate aspect of financial cooperation is setting up of joint institutions for financing joint projects, the EEC writes.<br> <br> Belt and Road is largely related to an expansion of transport and logistics infrastructure, so the EEC sees the need to build new transport and logistics infrastructure facilities.<br> <br> The EEC also considers possibilities to form joint production chains, monetary and financial and investment cooperation, and interaction in the digital sphere.<br> <br> The Eurasian economic integration strategy for the period to 2025 also provides for adoption of a conjugation roadmap. End<br> <br>
2021-07-06
Primepress
EEC sees ways to increase exports to China
The report identifies the categories of goods that would be promising in terms of EEU exports to China, primarily the products that the EEU actively export to third countries, but do not supply to China, which China purchases from third countries instead of the EEU. The list includes automotive industry products (some types of vehicles, bicycles and parts for them), pharmaceuticals and medical products (medicines, lenses, orthopedic devices); dishwashers; textile products (carpets, polyurethane-impregnated materials), iron products, chemical products, some types of meat, fabrics, and yarn from natural and synthetic fibers.
The EEC also sees a potential in trade in commodities that the EEU supplies to the PRC in insignificant amounts compared with supplies to third countries, particularly, cheese, immunological products, agricultural machinery, milk and cream, etc.
Opportunities for trade arise, among other things, because of the trade war between the U.S. and China. “Additional customs duties on U.S. products temporarily increase the competitiveness of EEU goods, to which restrictions do not apply, for example, of parts for agricultural machinery, acyclic esters, non-seeded oats, urea resins and others, reads the report.
The EEU member states have not had time yet to deliver on the potential of supplies of soybeans, cotton fabrics, knitted fabrics and clothing, facing tiles, tractors for agriculture, watch faces and some other commodities to China.
The parties should address the issue of using currencies of third countries, which puts obstacles to trade and economic cooperation between the EEU and PRC. A gradual transition to national currencies in mutual payments and investments would help build an independent, stable and secure regional financial and payment system. A separate aspect of financial cooperation is setting up of joint institutions for financing joint projects, the EEC writes.
Belt and Road is largely related to an expansion of transport and logistics infrastructure, so the EEC sees the need to build new transport and logistics infrastructure facilities.
The EEC also considers possibilities to form joint production chains, monetary and financial and investment cooperation, and interaction in the digital sphere.
The Eurasian economic integration strategy for the period to 2025 also provides for adoption of a conjugation roadmap. End