Kazakh Senate ratifies EAEU-Mongolia Interim Trade Agreement
The Kazakh Senate deputies ratified an Interim Trade Agreement between the Eurasian Economic Union and its Member States, on the one part, and Mongolia, on the other part, Qazinform News Agency reports.
According to Senator Shakarim Buktugutov, the key goal of the law is liberalization and facilitation of trade between the parties through reducing or lifting tariff and non-tariff barriers.
Currently, commodity trade shows positive dynamics. Last year, it reached 133.5 million US dollars with Kazakhstani goods constituting the dominant share up to 123 million US dollars.
The agreement provides for creating a joint committee to monitor, settle disputes, and ensure the protection of the interests of Kazakhstani entrepreneurs in Mongolia’s market.
Earlier, Majilis ratified the EAEU-Mongolia Interim Trade Agreement.