ArmInfo. On September 11, at a regular meeting, the Government of Armenia approved the draft temporary free trade agreement between the EAEU and Mongolia. The document was signed on June 27, 2025 in Minsk.
As stated in the explanatory note to the document, the purpose of the Agreement is to liberalize and simplify trade in goods, including by reducing tariff and non-tariff barriers, support trade and economic cooperation, and stimulate the expansion and diversification of trade between the Parties.
As a result of the implementation of the Agreement, it is planned to ensure the expansion and diversification of trade between the Parties to the Agreement, as well as increase the competitiveness of goods of the EAEU member states in the Mongolian market by increasing export volumes.
The Agreement regulates a wide range of economic cooperation issues, in particular, legal and horizontal obligations, simplification and promotion of mutual trade, customs regulation, sanitary and phytosanitary measures, e-commerce, dispute resolution and issues related to other areas.
The Agreement provides for the transparency of regulations applied to the export and import of goods, as well as compliance with WTO standards when applying trade protection measures. The Agreement establishes a list of tariff obligations of the Parties, rules for determining the origin of goods, features of information exchange within the framework of the Agreement, etc.
The attached lists of 367 commodity items for each Party, by types of goods for which the Parties are ready to provide tariff preferences, are an integral part of the Agreement. The proposals submitted by the Armenian side mainly include those goods that are of priority interest for the export of the Republic of Armenia.
"The opening of the Mongolian market will provide Armenian exporters with more competitive terms for the supply of such products exported from Armenia as cigarettes (Mongolian rate 30%), cognac (rate 15%), chocolate (rate 5%), mineral water (rate 5%), canned fruits (rate 5%).
The concessions provided by the Mongolian side to the Armenian side will cover 98% of exports from Armenia to Mongolia. The average customs duty rate on goods exported from Armenia to Mongolia will be reduced from 7.5% to 1.2%. As a result, savings due to customs duty benefits on exports from Armenia to Mongolia may amount to up to 1 million US dollars per year," the RA Ministry of Economy states.
The agreement provides for a three-year term with the possibility of extending it for another three years, unless the parties agree otherwise.
According to customs statistics, Armenia's exports to Mongolia amounted to $340 thousand in 2024 and $516 thousand in 2023. Imports from Mongolia to Armenia amounted to $53 thousand and $7 thousand, respectively.
