On June 8, Minister of Road and Transport Development of Mongolia J.Bat-Erdene and Minister of Transport of the Russian Federation Yevgeny Dietrich signed Intergovernmental Agreement between Mongolia and the Russian Federation on Terms for Railway Transit Transportation.
The signing ceremony was attended by Prime Minister U.Khurelsukh, Envoy of the Russian President I.E.Levitin, and other officials.
Under the agreement, Mongolia will enjoy stable tariff discount on the transit transport of its export goods through the Russian Federation for 25 years. For instance, 66.4 per cent discount on entry tariff on coal transportation and 52 per cent discount on freight transportation.
As a result, competitive export price of mining products and more foreign investment in mining production sector are anticipated.
This will enable Mongolian exporters to enter world market without any hindrance by facilitating transit transport entry of railway freight, promoting freight forwarding, and by developing and harmonizing the basic structure of transport and energy.