CHINA'S CUSTOMS AND TARIFF POLICY AND PROSPECTS FOR A FULL-FLEDGED FTA BETWEEN THE EAEU AND CHINA

Abstract

Under the conditions of sanctions pressure on the Russian economy, the expansion and strengthening of foreign economic relations with friendly countries becomes important. The issues of technical barriers, new supply chain solutions, customs cooperation, and industry cooperation become relevant. Given the sanctions pressure on the Russian market, and subsequently spread to the market of the Eurasian Economic Union, it becomes necessary to expand trade and economic relations with friendly countries, focusing on those countries with which trade agreements have been signed and major trading partners of the Eurasian Economic Union, also becomes a trend the signing of a free trade zone agreement. One of the important countries for the Eurasian Economic Union, given the volume of mutual trade, is China. Agreement on trade and economic cooperation between the Eurasian Economic Union and the People's Republic of China can serve as a basis for a free trade zone with China. The article analyzes trade turnover between Eurasian Economic Union and People's Republic of China since 2015 (the year of EEU foundation); dynamics of most-favored-nation treatment in China; applied ad valorem and specific rates of customs duties; countries, which concluded, trade agreements with China, as well as bound and applied Chinese tariffs on certain product groups and tariff quotas.