Ulaanbaatar
Info given on EPA to business people
PoliticsUlaanbaatar /MONTSAME/ The Mongolian Ministry of Foreign Affairs hosted Sunday presentation on Economic Partnership Agreement (EPA) to enter in force for representatives of business circles and the private sector.
The Foreign Minister of Mongolia L.Purevsuren and the Ambassador of Japan to Mongolia Takenori Shimizu made the opening remarks at the meeting which was attended by some 30 representatives from the Mongolian National Chamber of Commerce and Industry (MNCCI) and the Union of Exporters of Goods to Japan.
During the event, the parties exchanged notes on the EPA which was established between Mongolia and Japan.
To enter into force on June 7, 2016 or in 30 days after the exchange of the notes, the EPA will enable both countries to augment the bilateral trade, reciprocal flows of investments, services and products and to encourage the people-to-people contacts.
The EPA is important for Mongolia to join the regional economic integration, to introduce Japanese investments and know-how, to export goods to the Japanese market and other countries, and to benefit from joining the production network and the economic connectivity.
In accordance with the EPA, the Mongolian side will exempt 5,700 kinds of Japanese goods from import tax, whereas the Japanese side will do the same for 9,300 kinds of Mongolia-made products, providing Mongolia softer tariff conditions.
