Mongolia and Japan: intergovernmental agreement

Ulaanbaatar, Mongolia /MONTSAME/ Currently in Japan with the state visit, the President of Mongolia Ts.Elbegdorj has received a Minister of Economy, Trade and Industry of Japan Akihito Ohata. The latter has informed that Japanese Government will officially begin negotiations with Mongolia's Government on conclusion of the Intergovernmental Agreement on Economic Partnership. "This is our Government's gift for Your visit, Mister President," said Ohata.

Both sides have actively explored possibility to conclude this agreement from 2009 and established working group which comprises expert of public and private sectors of the two countries. "The agreement which equivalent to a free trade agreement is to regulate trade issues and free financial-service flow between banks of the countries and an important and responsible work for Mongolia," said the President. He proposed to aim at successful negotiations and signing the agreement by the 40th anniversary of the diplomatic relations between Mongolia and Japan which is to be marked in 2012.

At the Asia-Pacific Economic Cooperation (APEC) summit in Japan its participations addressed the issue of establishing a free trade zone in Asia-Pacific region, which has become the focus of international attention. Therefore the decision to conclude the agreement on economic partnership with Japan is one of the vital results of the visit of Mongolian state head.

Japan has started establishing the Intergovernmental Agreement on economic partnership with ASEAN members like Singapore, Thailand and Vietnam. During the meeting, Elbegdorj also noted that Mongolia is interested in making final pruducts through the introduction into production, based on raw mineral resources, the Japanese advanced environmental equipment and technology and exporting these value-added products to third countries' market. "Here we would like to receive a help from Japan and to cooperate with it," the President has undelined.

S.Otgonbayar

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