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On August 18, N.Uchral, Deputy Prime Minister, held a meeting with Igawahara Masaru, Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, to discuss ways to strengthen bilateral economic cooperation.
The two sides underlined the importance of maintaining high-level visits and agreed on the need to take the Mongolia–Japan Economic Partnership Agreement to the next stage. Currently, Japan accounts for more than 90% of the two countries’ trade balance, underscoring the urgency of deepening cooperation.
Deputy Prime Minister N.Uchral noted that a new law on standard conformity assessment, expected to be approved during the upcoming autumn session of Parliament, is designed to help harmonize standards between the two countries. He also highlighted plans to streamline customs procedures, which would reduce bureaucracy and foster a more favorable environment for new business initiatives.
Both sides agreed that Mongolia’s export potential to Japan could be significantly expanded in sectors such as agriculture, livestock, and tourism. N.Uchral also emphasized the government’s focus on empowering the private sector, supporting small and medium-sized enterprises, and enhancing business freedom.
Ambassador Igawahara welcomed these initiatives, noting growing interest among Japanese companies in sourcing goods from Mongolia. He expressed hope that the forthcoming legislative reforms will open new opportunities for Japanese investors and contribute to strengthening bilateral economic ties.
On August 18, N.Uchral, Deputy Prime Minister, held a meeting with Igawahara Masaru, Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, to discuss ways to strengthen bilateral economic cooperation.
The two sides underlined the importance of maintaining high-level visits and agreed on the need to take the Mongolia–Japan Economic Partnership Agreement to the next stage. Currently, Japan accounts for more than 90% of the two countries’ trade balance, underscoring the urgency of deepening cooperation.
Deputy Prime Minister N.Uchral noted that a new law on standard conformity assessment, expected to be approved during the upcoming autumn session of Parliament, is designed to help harmonize standards between the two countries. He also highlighted plans to streamline customs procedures, which would reduce bureaucracy and foster a more favorable environment for new business initiatives.
Both sides agreed that Mongolia’s export potential to Japan could be significantly expanded in sectors such as agriculture, livestock, and tourism. N.Uchral also emphasized the government’s focus on empowering the private sector, supporting small and medium-sized enterprises, and enhancing business freedom.
Ambassador Igawahara welcomed these initiatives, noting growing interest among Japanese companies in sourcing goods from Mongolia. He expressed hope that the forthcoming legislative reforms will open new opportunities for Japanese investors and contribute to strengthening bilateral economic ties.