Anticipating of the Agreement’s entry into force, Mongolian companies have been preparing their products for export to its highly developed partner in trade.
This document–the Economic Partnership Agreement–was signed by the Prime Ministers of Mongolia and Japan last February for liberalizing and facilitating trade in goods and services between the two countries.
Gobi Corporation, for example, has restored its branch in Japan, and opened last month its representative office in Arakawa district of Tokyo, the COO D.Naranbaatar says. Mongolia’s factories can send off 1-2 million pieces of cashmere clothes to Japan, if our government provides some incentives.
In the first nine months of 2015, Mongolia exported some 13 thousand pieces of cashmere clothers worth a half million US dollars. These products are currently imposed 10.1 percent import tax, which will be eliminated gradually. In this case, the Mongolian cashmere will have an advantage over similar products from China.
According to the General Customs Authority, Mongolia’s import to Japan in the first nine months of 2015 reached 14.3 million USD, of which a half was made up by copper concentrate test export, which began last August. Aside from the copper concentrate and cashmere goods, Mongolia is exporting animal gut, other by-products and vodkas. “Mongol Chevro” and “Mongol Bazalt” companies are studying possibilities to commercialize their products on Japan’s market as well. Last June, “Deed Ongo” (Supreme Color) company made a deal with Japan’s “Super Region” company to supply clothes worth five million JPY.SOURCE: Montsame