Mongolia’s free-trade agreement proposal supported by Kazakhstan
Mongolia proposed eliminating tariff and non-tariff barriers to trade with Kazakhstan and to form a joint committee to conduct a comprehensive analysis on a free-trade agreement with the EEU.
Officials from the Government of Mongolia have proposed eliminating tariff and non-tariff barriers to trade with Kazakhstan and to form a joint committee to conduct a comprehensive analysis on the importance of establishing a free-trade agreement with the Eurasian Economic Union (EEU). During the 7th Mongolia-Kazakhstan Intergovernmental Commission meeting, officials from Kazakhstan expressed their support for the proposal. As of the end of 2017, trade turnover between Mongolia and Kazakhstan totaled 36.6 million USD, a 22 percent increase compared to the same period in 2016, with Mongolia’s exports at 2.4 million USD and exports from Kazakhstan at 34.2 million USD. Despite the increase in trade between the two countries, it was agreed upon during the commission meeting that there are many resources available to further expand trade opportunities. The commission members also exchanged views on opening a new flight path between Astana and Ulaanbaatar and cooperating in city planning, with Kazakhstan sharing about its experience in changing the nation's capital from Almaty to Astana.
Views: 1098
Tweet