The EAEU will start negotiations with Mongolia on free trade in May

The Council of the Eurasian Economic Commission has approved the results of the work of the joint research group on the conclusion of a free trade agreement between the Eurasian Economic Union (EAEU) and Mongolia. In addition, a draft decision of the Supreme Eurasian Economic Council on the start of negotiations was approved.

According to the press service, the decision to start negotiations is planned to be made by the heads of state during the meeting of the Supreme Eurasian Economic Council on May 8, 2024.

The EEC Research Group has concluded that it is advisable to conclude a temporary trade agreement between the EAEU and Mongolia. Earlier, the EEC reported that the EAEU countries and Mongolia intend to finalize the preparation of an interim agreement on the creation of a free trade zone with limited commodity coverage by the end of 2024.

Currently, Mongolia is an observer at the EAEU, consisting of Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. In June 2015, the EEC and the Government of Mongolia concluded a cooperation agreement, and in 2020, the parties formed a joint research group to study the feasibility of concluding a free trade agreement.