Bill on joining Protocol amending Marrakesh Agreement to be submitted

Politics
B.khuder.
en_khuder@montsame.mn
2016-05-17 15:07:15

Ulaanbaatar /MONTSAME/ The cabinet decided Monday to submit to parliament a draft law on joining the Protocol amending the Marrakesh Agreement on establishment of the World Trade Organization (WTO).

According to 2015 survey by the World Bank on business, Mongolia spends approximately USD 2,745, on exporting one container products, whereas it is only USD 864 for Asia-Pacific countries. An approximate shipping duration from Mongolia takes about 44 days, while it is only 20 days for Asia-Pacific nations. The Mongolian index of trans-boundary trade has been ranked 173rd in the world.

Mongolia believes the document will bring noticeable progress in minimizing shipping duration and saving trade costs.

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