Prospects of cooperation between Russia, China, Mongolia

On the 23th and 24th of June the 15th meeting of the Council of Heads of Member States of the Shanghai Cooperation Organization was held in Tashkent (Uzbekistan) with the participation of 18 countries. The agenda of the summit was to discuss further improvements of the activity of the SCO, the cooperation in priority areas: security, countering terrorism and extremism, fight against drug trafficking, economy, humanitarian ties, Eurasian integration. 

The discussion of trade and economic cooperation included issues of the implementation of joint infrastructure projects in the field of trade and investment, transport, energy, finance, agriculture, telecommunications. The leaders of member countries of the summit discussed the large-scale tasks of association of the Eurasian Economic Union and the Silk Road Economic Belt, as a result of which is the formation of a common economic space.

The most important results of the summit are:

  • the SCO became stronger as a significant and powerful player on the international scene;
  • India and Pakistan became the statuses of full members of the SCO;
  • the Republic of Azerbaijan and Armenia, the Kingdom of Cambodia and Nepal were granted dialogue partner status in the SCO;
  • it was supported the China’s initiative to establish the Silk Road Economic Belt;
  • it was considered the issue of the establishment of the SCO Development Bank and Development Fund (Special Account) of the SCO;
  • adoption of the Action Plan 2016-2020 on the implementation of the SCO's development strategy until 2025.

Among the most important issues is the need for further promotion of cooperation in the sphere of transport and the formation of international transport corridors between Asia and Europe. 

As a result of the summit the leaders signed the Program of creation of an economic corridor China - Mongolia - Russia and the Agreement between the customs authorities of the three countries on the mutual recognition of the results of customs control in respect of certain goods. 

The program is aimed at an activation of border ties by launching of more than 30 tripartite projects. Among them: the establishment of a joint center for investment planning, modernization of the Ulan Bator railway, high-speed long distance railroad Moscow-Kazan, which is already at the design stage and will be a part of the revived belt «Great Silk Road», the space programs, joint development of wide-body aircraft, construction of the pipeline «Power of Siberia» etc. Thus, this program will contribute to the development of constituent entities of the RF located along the route of transport corridors, as well as will kick start to the development of the trade and economic cooperation with China and Mongolia.

New codes OKVED 2 in Globas-i®

Since 11.07.2016 all new established legal entities and sole entrepreneurs will get economic activity codes of the Russian Classification of Economic Activities OKVED 2 OK 029-2014. Till that period classifiers OKVED OK 029-2001/2007 were used.

Legal entities and sole entrepreneurs have no obligation to enter changes to registration documents for getting new OKVED 2 codes. The Federal Tax Service will change codes to OKVED 2 for all types of entities registered before 11.07.2016. In the process of changing the match keys developed by the Ministry of Economic Development of the RF will be used.

Till the 1st January 2017 the following versions of OKVED classifier are valid:

  • OKVED OK 029—2001/2007 (NACE Rev. 1, NACE Rev. 1.1),
  • OKVED OK 029—2014 (NACE Rev. 2).

Starting from the 1st January 2017 classifiers OK 029-2001/2007 will be cancelled. The transition period is set till this date.

In Globas-i types of economic activity are up-to-day and updated online using xml files from the Unified State Register of Legal Entities (EGRUL) and the Unified State Register of Sole Entrepreneurs (EGRIP).

Please note that for the beginning of the transition period the extract from EGRUL/EGRIP contains economic activity codes in accordance with OKVED OK 029—2001/2007 classifiers. Due to this fact codes from the extract can be out-of-date and vary from the data in Globas-i System.

Taking into account changes to OKVED 2 codes and the necessity to recalculate the batch of data, including archive data, some analytical functions (Industry ratios, Company’s position in the industry, Analysis of competitive environment, Analytical balance sheet) may contain errors. In the nearest future all calculations will be finished and mentioned analytical functions will be available as usual.