Shanghai – China and Mongolia held the first meeting for the joint feasibility study on a free trade agreement (FTA) in Ulan Bator in September 26-27, according to the Ministry of Commerce (MOC) on Saturday.
The two delegations exchanged in-depth views on their respective trade policies and practices, and also conducted in-depth exchanges on core issues such as research methods, content, timetable, and division of work, and reached a consensus, laying a good foundation for the completion of joint feasibility study as soon as possible.
In May 2017, during the Belt and Road Forum for International Cooperation in Beijing, China and Mongolia signed a memorandum of understanding and launched the FTA feasibility study.
Mongolia is an important trade partner of China. In 2017, the bilateral trade volume reached 6.37 billion U.S. dollars, a year-on-year increase of 38 percent.