Mongolia seeks to develop economic and trade cooperation with the Eurasian Economic Union (EAEU) by implementing a program of joint projects for the 2020-2021 period, Mongolian Prime Minister Ukhnaagiin Khurelsukh said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 04th December, 2019) Mongolia seeks to develop economic and trade cooperation with the Eurasian Economic Union (EAEU) by implementing a program of joint projects for the 2020-2021 period, Mongolian Prime Minister Ukhnaagiin Khurelsukh said on Wednesday.
"Our country seeks to actively develop actual trade and economic cooperation with the Eurasian Economic Union's members. Mongolia attaches great importance to the Eurasian Economic Union, which is the target export market for us," the prime minister said during the Russia-Mongolia business forum in Moscow.
He stressed his country and the EAEU had managed to achieve positive results and strengthen the legal framework of cooperation after the memorandum on trade and economic cooperation between the Eurasian Economic Commission and the government of Mongolia was signed in 2015.
According to Khurelsukh, Mongolia and the EAEU agreed on a program of joint projects for the next two years that reflects the tendency toward improving cooperation.
"I strongly believe that the document [on joint projects] will boost trade and economic cooperation," Khurelsukh said.
He also added that Mongolia hoped to start the work on establishing a free trade area with the EAEU in the near future.
On Tuesday, Russian Ambassador to Mongolia Iskander Azizov told Sputnik that Mongolia and the EAEU continued to address the possibility of creating a free trade area, including within a joint working group, which last met on October 21.
The EAEU is an international organization for regional economic integration established in 2015. Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russian are members of the union.
