Armenian Parliament votes in favor of ratifying EAEU-China agreement

The Parliament of Armenia voted in favor of ratifying the agreement aimed at deepening and expanding the mutual partnership between the Eurasian Economic Union (EAEU) and China.

Deputy minister of economic development and investments Albert Babayan introduced the bill on ratifying the agreement to the MPs during yesterday’s session.

The agreement provides mechanisms of mutual partnership at various directions of state regulation which enables to maximally take into account the separate interests of the EAEU common and each member states, as well as the business interests, the regulation’s transparency and predictability at national and supra-national levels. The agreement doesn’t suppose reduction in customs duties. The ratification of the agreement will contribute to deepening and expanding the mutual partnership between the EAEU member states and China, as well will connect the new cooperation programs and technologies between the EAEU states and China to some extent.

The EAEU-China agreement has been signed in Astana on May 17, 2018.