MCGA: Mongolia’s export to Japan decreased since EPA launch

ZGM DAILY

2018-04-12 17:01 GMT+8

According to the Mongolian Customs General Administration (MCGA), volume of the products imported from Japan has increased with a decrease in exports since the launch of Mongolia – Japan Economic Partnership Agreement (EPA).

Goods exported to Japan with discounted tariff under the EPA accounts for 40 percent of Japanese import volume from Mongolia. Within only the first three months of this year, MNT 38.6 million worth imported goods enjoyed MNT 3.8 billion deduction from customs duty discount, which doubles the previous amount in the year over year comparison. Majority of imported goods consisted of vehicles, heavy-duty mining equipment and their spare parts. But in the first quarter of this year, Mongolia exported goods worth USD 1.8 million to Japan, a 26.4 percent drop compared to the same period of 2017. The driving export goods include aluminum, raw materials of animal and livestock, such as small intestines, farding-bags, animal organs for pharmaceutical production purposes, woolen yarn, woolen and cashmere sweaters etc.

In addition, 126 kg of honey, approximately 1200 liters of sea buckthorn oil and juice were exported in the first quarter of this year, increasing sales turnover between the two countries. The MCGA reported that the indicators of only the first quarter has grew by 72.1 percent compared to the pre-EPA period.

The EPA launched on June 7, 2016. Between the launch and March 31, 2018, a total of MNT 17.2 billion customs duty was exempted from USD 210.1 million worth goods imported from Japan. Under the EPA, 5700 goods from Mongolia and 9300 goods from Japan enjoyed customs duty exemption directly.

Oyunbayar.N

 

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