Ulaanbaatar
Foreign trade turnover reaches USD 705.5 million
PoliticsUlaanbaatar /MONTSAME / Foreign trade turnover reached to USD705.5 million as of January 2017 after a growth of USD177.4 million or 33.6 per cent compared to the same period of 2016, reported the Ministry of Foreign Affairs. The Foreign trade turnover of USD8.3 billion in the year of 2016 was lower by 2.3 percent than in 2015.
To increase foreign trade, Mongolia has joined the World Trade Organization's Trade Facilitation Agreement and signed an agreement with Canada on stimulation and mutual protection of investment. The Economic Partnership Agreement between Mongolia and Japan has entered into force and as a first result of it, trade turnover of the two countries increased by 17 per cent, reaching USD344 million.
The Foreign Ministry is working to establish Free Trade Agreement with the Republic of Korea and Eurasia Economic Union. Within the framework of the latter, second meeting of a joint working group was held this month.
