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IMPLEMENTION PROCESS OF THE JAPAN-MONGOLIA ECONOMIC PARTNERSHIP AGREEMENT (EPA)

MonJap EPA news pic

The Japan-Mongolia Economic Partnership Agreement entered into force on June 7, 2016 and it covers 17 areas such as Trade in goods, Rules of origin, Customs procedures and Trade facilitation, sanitary and phytosanitary measures, Trade in service, investment, intellectual property, government procurement and other areas.

Therefore Mongolian Customs is implementing and working on the following three areas:

      • Trade in goods
      • Intellectual property
      • Customs procedure and Trade facilitation

According to the agreement, 5700 types of good from Mongolia and 9300 types of goods from Japan are under exemption of customs duties or expected to be exempted periodically. This only applies to goods that satisfy the requirements of rules of origin.

Since the Japan-Mongolia EPA became effective to March 31, 2018, total of MNT 17.2 billion customs duty was deducted from total of USD 210.1 million worth of goods which imported from Japan to Mongolia.

The trade turnover between Mongolia and Japan reached USD 98.5 million after EPA entered into force which indicates that the trade turnover increased 72.1% compared to period prior to the agreement became effective. The followings show the growth of the trade turnover in last three years:

    • USD 57.2 million in 2016
    • USD 77.6 million in 2017
    • USD 98.5 million in 2018