13 августа 2024 — 15:40
The Eurasian Economic Union (EAEU) and Mongolia plan to sign an interim agreement on a free trade zone (FTA) in December, at a meeting of the Supreme Eurasian Economic Council, RIA Novosti reports, citing Alexander Kozlov, head of the Ministry of Natural Resources of the Russian Federation and co-chairman of the Russian-Mongolian intergovernmental commission on trade and economic cooperation.
"In order to create favorable conditions for the access of traditional Mongolian export goods to the Russian market, the issue of concluding an interim free trade agreement between the EAEU and Mongolia has been worked out. We plan to sign the agreement in December, at a meeting of the Supreme Eurasian Economic Council," Kozlov is quoted as saying in a message from the Ministry of Natural Resources of the Russian Federation following the negotiations of the delegations.
In addition, the minister noted that the countries are coordinating projects that will create the Russia-Mongolia-China economic corridor.
"In short, this is a connection of ports and railways between the three countries," explained Kozlov.
At the meetings in Ulaanbaatar, the parties also discussed cooperation in subsoil use, energy, logistics, education, culture and sports. Following the talks, the delegations agreed that the next meeting of the Russian-Mongolian intergovernmental commission will be held in Moscow in the autumn.
Earlier in July, Russian Deputy Prime Minister Alexei Overchuk said that Russia expects that the interim agreement between the Eurasian Economic Union (EAEU) and Mongolia on a free trade zone will be concluded by the end of the year. According to him, the temporary FTA agreement is designed for three years and will affect a limited number of goods, including meat, leather, wool, cashmere.