Mongolia-Japan Economic Partnership Agreement becomes effective in June

Odonchimeg 2016-05-09 08:05

Economy

Mongolia-Japan Economic Partnership Agreement becomes effective in June.

Mongolia-Japan Economic Partnership Agreement becomes effective in June. Becoming effective, the EPA will enable the two countries to augment the bilateral trade, reciprocal flows of investments, services and products and to encourage the people-to-people contacts. The EPA enables Mongolia to join the regional economic integration, to introduce Japanese investments and know-how, to export goods to the Japanese and other international markets, and to benefit from joining the production network and the economic connectivity. In the scope of EPA, Mongolia will exempt 5,700 kinds of Japanese goods from import tax, whereas Japan will do the same for 9,300 kinds of Mongolia-made products, thus providing Mongolia softer tariff conditions. For Mongolia it is the first Economic Partnership Agreement.