China Proposing To Establish Free Trade Zone With Eurasian Economic Union

– China Proposing to Establish Free Trade Zone With Eurasian Economic Union (Sputnik, Feb 9, 2015):

China proposed to the Eurasian Economic Union to think about creation of a free trade zone in the future, according to Russian Ambassador to China Andrei Denisov.

 BEIJING, (Sputnik) — China offered to establish a free trade zone with the Eurasian Economic Union in the future, Russian Ambassador to China Andrei Denisov told RIA Novosti.

“Chinese partners were very careful in regard to this integration in the beginning. They simply needed to make sure that it works. Now they show interest in increasing cooperation not only with the separate countries – Kazakhstan, Belarus, Russia, Armenia and Kyrgyzstan in the future, but with the union as such. And as far as I know they even proposed to us, the members of the union, to think about creation of a free trade zone in the future,” Denisov said.Denisov added that both sides are already discussing mechanisms to cooperate in the future.

The Eurasian Economic Union, which includes Russia, Armenia, Belarus and Kazakhstan, came into force on January 1. Kyrgyzstan’s membership, agreed to in December 2014, is expected to come into force in May.