Ulaanbaatar
Prime Minister proposes to sign FTA with Eurasian Economic Commission
PoliticsUlaanbaatar /MONTSAME/ On February 3, Prime Minister J.Erdenebat received Tatyana D.Valovaya, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, along with her accompanying delegation.
The Premier expressed his satisfaction with the ongoing cooperation of Mongolia with the EEC. He extended a proposal to establish a Free Trade Agreement and said the Mongolian side is willing to form a joint study team to formulate the FTA.
Ms. Valovaya recognized the proposal and pledged to give immediate response as soon as the matter is discussed with the EEC parties. She also underlined that the bilateral trade and economic cooperation has been stagnated since 2010, and highlighted a need to organize an economic forum of business people from Mongolia and EEC member states.
In response, PM J.Erdenebat expressed his approval for the initiative and said the two sides need to arrange the date soon. “Goods from EEC members, especially Russia are well-acknowledged among Mongolian consumers. This means that EEC investors have an already secured open market in Mongolia. On the other hand, the Mongolian government has been prioritizing its agricultural sector. Our agricultural products are pure organic. However, the EEC countries’ standards are quite different and complex for Mongolia to commercialize its agricultural products. The business forum and FTA are both essential to opening own markets to each other and making the best out of our economic and commercial relations less complicated”, he said.
