During the first round of negotiations on concluding an interim trade agreement between the Eurasian Economic Union, its Member States, and Mongolia taking place in Ulaanbaatar, the parties were already able to state their substantive completion.

This was possible owing to the fact that the draft document, including arrangements for lowering or zeroing duties on a limited range of goods, was prepared in record time.

“Extending cooperation through concluding the interim trade agreement between the EAEU and Mongolia is of strategic importance as it will enable to create extra incentives for mutual increase in exports of products, trade diversification, and improvement of competitiveness of goods in each other’s markets. Besides, we expect closer integration of our Union countries and Mongolia into regional and global value chains,” Andrey Slepnev, EEC Minister in charge of Trade, stated.

The parties expressed their intention to close the agreement by the end of this year.