9 Oct 2017 11:02

Russia, Mongolia to discuss economic cooperation in Irkutsk in late October

IRKUTSK. Oct 9 (Interfax) - The Russian-Mongolian Intergovernmental Commission will meet in Irkutsk on October 18-20, the regional government said in a statement on Monday.

The agenda is still being elaborated.

"To us, the primary benefit of this event will be new business contacts. A new government is being formed in Mongolia after the presidential election, which took place in late June," the statement quoted the Irkutsk region economic development minister, Yevgeny Orachevsky, as saying.

The Mongolia-EAEU 2017 business forum was held in Ulaanbaatar on October 4 with the participation of representatives of the Mongolian Business Council, the Eurasian Economic Union (EAEU), and the EAEU member countries (Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia), the statement said. The forum highlighted trade liberalization mechanisms.

"The Eurasian Economic Union and Mongolia are eyeing a free trade agreement. The document will reduce duties and implement a uniform international certification system, which will save time and money of businessmen," the statement said.

The Irkutsk region is a major trade partner of Mongolia.