A temporary trade agreement between the Eurasian Economic Union (EAEU) and Mongolia came into force on July 22, eliminating or reducing customs duties on 367 tariff subheadings, which account for about 90% of mutual trade turnover, and opening new opportunities for exporters and importers on both sides, reports the website infohub.kz.
According to the Eurasian Economic Commission (EEC), the agreement was signed in 2025 and is valid for three years, with an option for automatic extension for another three-year term. "After the agreement enters into force, customs duties on 367 tariff subheadings will be eliminated or reduced for each side," the EEC said.
Andrei Slepnev, Minister for Trade at the Eurasian Economic Commission, noted that suppliers from EAEU countries gain special advantages because Mongolia has no similar trade agreements with other countries in the region. According to him, manufacturers from the Union states will be able to supply a wide range of food and industrial goods to the Mongolian market on more favorable terms. "The list of products includes dairy products, beverages, confectionery and chocolate, passenger cars and trucks, cosmetics, perfumery, and other consumer goods. In return, the EAEU market will receive high-quality meat products, famous Mongolian cashmere, and other agricultural and industrial goods on preferential terms," the EEC said.
Ahead of the agreement's launch, the Eurasian Economic Commission, together with business representatives and relevant agencies on both sides, agreed on additional measures aimed at further increasing mutual trade. "In particular, agreements were reached to expand cooperation in the agro-industrial complex, increase supplies of meat and meat products, remove technical barriers to market access for goods, and develop e-commerce," the EEC said.
According to Slepnev, expectations of the agreement's entry into force have already positively affected business activity. He said that in early 2026, mutual trade between EAEU countries and Mongolia increased by about a third compared to the same period in 2025. The minister expressed confidence that the new conditions will take economic cooperation to a qualitatively new level and called on business representatives to actively use the emerging opportunities to expand partnerships with Mongolian companies.