Who Benefits From Cheaper Trade With Mongolia as the EAEU Introduces Preferences
Photo: eec.eaeunion.org
Member states of the economic union could save up to $100 million a year thanks to lower duties, Orda.kz reports.
The Eurasian Economic Union is preparing to roll out a temporary trade agreement with Mongolia. The Chairman of the EEC Board, Bakytzhan Sagintayev, held talks with Nyam-Osoryn Uchral, head of the Mongolian government’s secretariat. The key topic was ratifying the document, which would give EAEU countries significant advantages in the Mongolian market.
The agreement will cover more than 90% of exports from the bloc’s member states—worth about $2 billion a year. According to the Eurasian Economic Commission’s estimates, businesses across the «Eurasian five» could save up to $100 million annually as customs duties are reduced.
The EEC said preparations for the agreement’s entry into force are already in full swing. The Commission’s Council has approved a roadmap to launch the deal.
As a reminder, the EEC has once again lowered the duty-free threshold for goods imported through online shopping and approved uniform rules for all member states. The limits and rates have been revised several times, including during and after the pandemic, to make online trade easier for individuals. Previously, EAEU countries had a higher threshold.
Original author: Alexander Zhdanov
Latest news
- Who Benefits From Cheaper Trade With Mongolia as the EAEU Introduces Preferences
- Kazakhstan Slides to 96th in Corruption Perceptions Index
- «We Need to Check That»: AI Minister Flustered in Front of Kassym-Jomart Tokayev
- Kazakhstan Extradites Turkish Fraud Suspect From Montenegro
- Kazakhstan to Spend 8 Trillion Tenge on Coal-Fired Power Plants
- Kazakhstan Limits Free Speech to Protect People?
- What Kazakhstan Could Learn from Mongolia’s Olympic Kit
- Mother Questions Official Account of National Guard Conscript’s Death in Oral
- KazTransOil to Boost Oil Supplies to Kyrgyzstan, Resume Transit to Uzbekistan
- Russian Teen Who Fled to Kazakhstan to Escape War Faces Deportation
- Lawyer Comments on Gulnara Bazhkenova's House Arrest Conditions, Appeals to International Organizations
- Kazakhstan Marks Independence Day, Remembering the Tragic December Events of 1986
- Kremlin Spokesperson Says Ukraine’s Non-NATO Status Is Central to Peace Talks
- Kcell Receives Certification for Information Security
- Uzbekistan Aims to Halt Gas Production Decline by 2026 With New Fields
- Kyrgyzstan: Culture Ministry Denies Reports of Ban on Valery Meladze Concert
- Kazakh Ophthalmologist Wins International Honors at Hong Kong ICT Awards 2025
- Kazakhstan: Construction Industry Urges for Return to Previous Time Zone
- KTZ Spends 79 Million Tenge on New Workwear After Complaints From Mangystau Employees
- Armenian Defense Minister Says Situation Calm Along Border With Azerbaijan
