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Mongolia and EEC sign memorandum on trade and economic cooperation

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Prime Minister of Mongolia Ch.Saikhanbileg and the Chairman of the Eurasian Economic Commission (EEC) Board Victor Khristenko signed a memorandum on cooperation between the Eurasian Economic Commission and the Government of Mongolia on June 17, in Moscow.
The goal of the signed document is to promote the development of comprehensive cooperation between the Member States of the Eurasian Economic Union (the EAEU) and Mongolia, and to increase the efficiency of mutual trade and the implementation of measures aimed at eliminating barriers preventing trade development. The document declares that the parties concluded the memorandum in an effort to unlock new gains in trade and economic cooperation.
The parties will develop trade and economic cooperation in a number of areas. In particular, in transport – in order to create efficient, reliable and stable transport routes and to deliver transport services; in agro-industrial complexes – in order to ensure food security, as well as to create conditions for increasing the competitiveness of the subjects of agro-industrial complexes of EAEU member states and Mongolia; and in competition policy – in order to develop fair competition for ensuring the growth of business activity, balanced trade and the production of quality goods. Interaction will be also developed in trade policy, technical regulations, sanitary, veterinary and sanitary and quarantine phytosanitary measures.
The memorandum provides for establishing a working group on cooperation between the Eurasian Economic Commission and the Government of Mongolia in order to develop the goals of the memorandum.
With the support of embassies of the Republic of Belarus, the Republic of Kazakhstan, and the Russian Federation to Mongolia, a working visit of Member of the EEC Board and Minister in Charge of Development of Integration and Macroeconomics at the EEC Tatyana Valovaya took place in Ulaanbaatar, during which Mongolia came forward with the proposal to sign a memorandum on cooperation between the EEC and the Government of Mongolia, on March 25 to 28, 2015.
On May 7, 2015, the Chairman of the EEC Board, Victor Khristenko, held a meeting with President of Ts.Elbegdorj, following which a mutual intention to sign the memorandum in the near future was expressed.


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