Ulaanbaatar
Mongolia-Japan EPA takes effect
PoliticsUlaanbaatar /MONTSAME/ The Economic Partnership Agreement (EPA) between Mongolia and Japan took effect on June 7 on occasion of which the EPA’s intergovernmental committee held the same day the first its meeting in Ulaanbaatar.
Minister of Foreign Affairs of Mongolia MrL.Purevsuren and the Senior Vice Minister for Foreign Affairs of Japan Mr Seiji Kihara gave opening speeches. The sides exchanged information and agreed upon operational rules of the intergovernmental committee, regulations on goods trade, certificates of origin and quotes.
The joint protocol of the committee meeting was signed by Mr L.Purevsuren and Mr S.Kihara. The EPA is expected to facilitate Mongolia with opportunities to introduce know-how and investment, penetrate third markets through Japan, to connect to regional production networks and the economic connectivity.
According to the agreement, 5,700 types of goods from Mongolia and some 9,300 types of goods from Japan will be exempted directly and gradually from import taxes and custom duties respectively. Thus, the businesspeople from both countries will be able to supply goods bearing origin certificates on discounted tariffs.
