YEREVAN. – The heads of the Eurasian Union discussed signing of an agreement with China, formation of a common market of oil and oil products, as well as a common customs code, the chairman of the Eurasian Economic Commission Tigran Sargsyan said.

He noted that the main purpose of the agreement to be signed with China is to create more favorable conditions for economic entities and citizens of our countries. The members of the Eurasian Intergovernmental Council have agreed on key points.

“The second item on the agenda is the question of the formation of a single market of oil and petroleum products,” he added.

He stated that the agreement, and this document will be submitted for discussion by the heads of the Eurasian Union member states in late May in Astana, RIA Novosti reported.

During the meeting, the head of the Russian Government Dmitry Medvedev said that the EAEC countries should not lose the opportunity of cooperation with Asian countries.

Earlier, representatives of ASEAN have repeatedly expressed their interest in cooperation. He also urged not to delay negotiations with China.