Ulaanbaatar
Uchral Nyam-Osor: “Mongolia-Japan Economic Cooperation Partnership Needs Advancement”
Politics
Ulaanbaatar, August 19, 2025 /MONTSAME/. The Government is prioritizing the advancement of the Mongolia-Japan Economic Partnership Agreement.
First Deputy Prime Minister and Minister of Economy and Development Uchral Nyam-Osor emphasized this point during his meeting with Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia Igawahara Masaru, noting that bilateral cooperation regarding high-level visits has been strengthening.
Minister Uchral Nyam-Osor stated, “Japan accounting for over 90 percent of the bilateral foreign trade balance underscores the urgency of elevating our partnership. To address the trade imbalance, adjustments to customs tariffs are essential. The new law on conformity assessment of standards is set to be adopted during the autumn session of the Parliament, with a focus on mutual harmonization of standards. Additionally, revisions to common customs regulations will help reduce bureaucratic hurdles and foster a more favorable environment for launching new businesses in Mongolia.”
Ambassador Igawahara Masaru remarked, “Japanese business representatives are mostly interested in export opportunities from Mongolia. I believe the new laws to be passed by the Parliament will create wider opportunities for investors.”
The two sides emphasized that key sectors such as agriculture, crop farming, and tourism could serve as a foundation for expanding exports.
