News

On March 13–14, the Eurasian Economic Commission held consultations on the conclusion of a temporary trade agreement between the Eurasian Economic Union and its Member States with Mongolia, involving limited commodity coverage.

Mongolia is one of the EAEU's priority partners, and special importance is attached to the expansion of trade and economic ties with it.

The Union and Mongolia have a wide range of opportunities both to improve the competitiveness of national industries and to enhance bilateral trade, as well as to facilitate access to each other's markets.

"Future arrangements should be mutually beneficial and enjoy the unconditional support of our peoples and our businesses. It is not by chance that we started talking about a temporary agreement, because time is indeed essential. It is important for us to quickly and promptly achieve the result that will be manifest to all," said Andrey Slepnev, EEC Minister in charge of Trade, opening the consultations.

"It should be noted that since the times of the Soviet Union, Mongolia has considered Russia and other EAEU countries as priority foreign trade partners, but today their share in the total trade turnover is small. The future agreement should give impetus to change the current situation," in his turn said Chimediin Khurelbaatar, Deputy Prime Minister and Minister of Economy and Development of Mongolia.

Following the consultations, the parties reiterated their focus on finalizing the agreement before the end of the year.