The Current Issues of Trade Cooperation Between the EAEU and China

Abstract

INTRODUCTION. The EAEU, as a subject of international law, undergoes a process of integration cooperation with states. Interaction of the EAEU with countries is characterized by a variety of forms and despite the fact that it relies on the legal experience of most international organizations, nevertheless it chooses its own exclusive way. One example of a fruitful partnership, although not unambiguous on some issues, is the cooperation between the EAEU and the PRC. The purpose of this article is to trace the realization of the economic potential of the EAEU and the PRC to create the Silk Road Economic Belt as part of the PRC's global initiative "One Belt, One Road. In addition, to analyze the interlinking of expectations and economic reasons for this of each of the EAEU member states.MATERIALS AND METHODS. The research uses various documents of international legal nature, including international treaties, doctrinal sources and national legislation of foreign countries. The research is carried out with the use of general scientific and special scientific methods. In the process of legal analysis and forecasting methods of legal modeling were used.RESEARCH RESULTS. The article provides a comprehensive analysis of the international legal framework of economic cooperation between the EAEU and the PRC and also formulates recommendations for improving this mechanism. The overland economic corridors and their correlation with the opportunities of EAEU member states within the framework of the "One Belt, One Road" initiative are analyzed in detail, as well as the results of each EAEU country's participation in this project. In addition, the initiatives of China, the so-called "Digital Silk Road" and the interest of EAEU member states in this direction are considered. In addition, the author conducts a legal examination of the basic agreements signed between the EAEU and the PRC.DISCUSSION AND CONCLUSIONS. The study of the problems and prospects of cooperation between the EAEU and its member countries allows us to note the systematic nature of the EAEU's activities in the field of integration interaction with third countries. At the same time, the variety of forms of cooperation allows the EAEU to respond flexibly to the level of readiness of one or another country to simplify trade procedures. The author concludes that, structurally, the process of pairing the EAEU and the Silk Road Economic Belt (SREB) occurs both as an interlinking of integration initiatives' development agendas and as cooperation with individual EAEU countries. The article emphasizes the inefficiency of a bilateral format of the EAEU member states' accession to the SREB initiative. Considering the legal basis for cooperation between the EAEU and the PRC, the author notes a consistent algorithm of joint actions at the current stage of integration. Nevertheless, for the future it is necessary to develop other formats of international cooperation, which would not be geographically contingent, but would ensure effective coordination between different economic blocs of states, including those at different stages (forms) of integration. We should note the topicality of the digital agenda of mutually beneficial cooperation for both the PRC and the EAEU countries on a long-term basis.