Putin announced the creation of a new economic Alliance with China

In June will start the negotiations on a new trade and economic partnership in Eurasia. The project will participate, and China, said at the St. Petersburg economic forum, Russian President Vladimir Putin.

“The official start of negotiations” should be given in June, Putin said. “We and our partners believe that the Eurasian economic Union may become one of the centers of formation of wider integration path,” the President said during the plenary session.

In the new circuit it will be possible to solve major technological problems, and to motivate, and to engage in the process” for new members, Putin said. To create it you first need to bring to a common denominator phytosanitary and customs legislation, and then gradually move towards the reduction and then the abolition of tariff restrictions”.

The negotiations, which will begin in June with China will be “one of the first steps of the formation of a large Eurasian partnerships”, said the President. The project is supported by Russia and the countries of the Eurasian economic Union (EEU). Putin added that this question had already been discussed in may in Astana during the meeting of the heads of the EEU, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. Potentially the Union could include China, India, Pakistan, Iran and other countries.

The project on creation of the economic Union will be discussed at the Eastern economic forum in Vladivostok in September. The project of “greater Eurasia” will also be open for Europe, Putin said.

June 17, Vladimir Putin announced Russia’s readiness to meet Europe. He urged the EU to engage with Russia and to restore confidence in the Russian-European relations.

The President noted that Russia is interested in Europe took part in the big project of the European partnership. “In this regard, welcome the initiative of the President of Kazakhstan for consultations between the Eurasian economic Union (EEU) and the EU. Yesterday we discussed this issue at the meeting with President of the European Commission”, said Putin.

RBC is an online broadcast with the St. Petersburg economic forum.