The Interim Trade Agreement between the Eurasian Economic Union and its Member States, on the one part, and Mongolia, on the other part, signed last year, will come into effect on July 22.
From this point on, customs duties on 367 commodity subheadings, accounting for approximately 90% of total trade turnover, will be zeroed or reduced for each party. The Agreement is valid for 3 years with the possibility of automatic renewal for another three-year period.
In turn, high-quality meat products, the famous Mongolian cashmere, and other industrial and agricultural goods will enter the Union’s market under preferential treatment.“Unique conditions have been created for suppliers from the Eurasian Economic Union countries — Mongolia has no other such agreements in the region. Our manufacturers now have access to a wide variety of food and industrial goods, such as dairy products, beverages, confectionery and chocolate, motor vehicles and trucks, cosmetics and perfumery products, and other consumer goods,” reported Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission.
On the eve of enacting the Agreement, the Commission, jointly with the business community and the relevant agencies of both parties, approved a number of key steps aimed at ensuring further growth in supplies. In particular, arrangements were reached to extend cooperation in the agro-industrial sector, including to expand deliveries of meat and meat products, eliminate technical barriers to access to each other’s markets, and develop e-commerce.
Andrey Slepnev invited the business community to make active use of the preferences granted and to develop cooperation with the Mongolian side.“While awaiting the Agreement’s enactment, the businesses of both sides have intensified their business ties and developed mutual trade by one-third at the beginning of this year compared to the same period in 2025,” the EEC Minister mentioned. “I am confident that the conditions created by the document will allow us to take our relations to a whole new level.”
