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10 May 2024, 10:11

EAEU to start negotiations on interim trade agreement with Mongolia 

MOSCOW, 10 May (BelTA) - The leaders of the countries of the Eurasian Economic Union have decided to start negotiations with Mongolia on an interim trade agreement, BelTA has learned. 

"The heads of state instructed to start negotiations on an interim trade agreement with Mongolia. Plans are in place to reduce or to zero import duties on a limited range of goods," Chairman of the Board of the Eurasian Economic Commission (EEC) Bakytzhan Sagintayev told the media following the summit on 10 May. 

A draft protocol on the electronic exchange of information on the origin of goods with Vietnam was approved. "This is the first time we have introduced such a format of interaction with an external partner," the EEC chairman said. “Customs authorities will be able to directly receive the necessary information in digital format. This will significantly speed up the processes of customs clearance and will have a positive impact on trade." The EAEU uses various options for building mutually beneficial cooperation with external partners.

"Today, we reported on the key achievements of the commission and the EAEU member states on the external track. One of the most significant was a full-fledged trade agreement that we concluded with Iran last year. The document provides opportunities for cooperation in the field of transport, energy and other areas. Work continues on the conclusion of trade agreements with Egypt, Indonesia and the UAE. The EEC is also developing a dialogue with regional integration associations," Bakytzhan Sagintayev said. 
The heads of state were also briefed on the progress in the Strategy 2025, and on the functioning of natural monopolies. A number of important issues in customs administration, the electricity market and trade were considered. 

During the meeting the heads of state agreed to hold the next meeting of the Supreme Eurasian Economic Council in St. Petersburg in December.

The current summit marked the 10th anniversary of the EAEU Treaty. The heads of state first discussed the issues on the agenda in a narrow format, and then, after a break for tea, continued negotiations in an expanded format. The leaders of the EAEU member states (Belarus, Russia, Kazakhstan, Kyrgyzstan and Armenia) were joined by the heads of observer states of Uzbekistan and Cuba.
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