Eurasian Economic Union, Mongolia, Agree On Temporary Free Trade Agreement

EAEU-Mongolia

The Eurasian Economic Union (EAEU) and Mongolia have agreed on the remaining issues concerning a temporary free trade agreement, according to the Eurasian Economic Commission (EEC). This follows a meeting between EEC Trade Minister Andrei Slepnev and Gantumur Luvsannyam, the Mongolian Economic and Development Minister.

Slepnev said “We have conducted productive talks, in which we discussed in detail all remaining issues concerning the draft temporary trade agreement between the Eurasian Economic Union and Mongolia. We reaffirm our commitment to further develop interaction with Mongolia as a close neighbour and a friendly country, with which we traditionally have warm relations.”

Mongolia Map

The talks on the conclusion of a temporary trade agreement between the EAEU and Mongolia are being conducted in line with the decision made by the Supreme Eurasian Economic Council on May 8, 2024. According to earlier reports, the temporary free trade agreement with Mongolia will be for three years and will affect 375 commodity items on each side, for which customs duties will be reduced.

The Eurasian Economic Union includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

Further Reading

Russia – Mongolia Bilateral Trade Up 21% In 8M 2024

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