Xinhua | 29 May 2018

Mongolia, Russia to seek free trade deal

ULAN BATOR, May 29 (Xinhua) — Mongolia and Russia have agreed to work toward a free trade agreement (FTA) to expand bilateral economic cooperation, Mongolia’s Foreign Affairs Ministry said Tuesday.

The agreement was reached during a recent meeting between Mongolian Foreign minister Damdin Tsogtbaatar and his Russian counterpart Sergey Lavrov in Moscow.

Tsogtbaatar made an official visit to Russia on May 16-18.

The two nations have already begun joint research on an FTA outline.

Mongolia and Russia expect the free trade agreement to bolster two-way trade and investment, and deepen bilateral ties.