ECONOMIC COOPERATION, TRADE AND INVESTMENT

The Mongolia-Japan Economic Partnership Agreement (EPA) entered into force in June, 2016, and was signed on February 2015. The agreement is expected to give its benefit soon. We see that foreign trade turnover and direct investment from Japan will increase.

The Government of Japan is keep implementing Official assistance development to Mongolia. In the framework of the ODA new Ulaanbaatar international airport has become operational in 2021. The Government of Japan is showing special support for human resource development in Mongolia. According to the bilateral agreement between Mongolia and Japan, Mongolia will send 1000 students to Japan in order to pursue degrees in engineering and other technology-related fields. The Japanese side has expressed support for diversifying Mongolia’s economic structure and to further developing the agricultural sector. The two sides are working closely together to further develop cooperation in the coal sector and exchange views on introducing Japanese high technology to Mongolia.