AKIPRESS.COM - Mongolia is considering joining the Eurasian Economic Union according to the press service of the Eurasian Economic Commission (EEC) issued following the meeting between Chairman of the EEC Board Tigran Sargsyan and Ambassador of Mongolia to Russia Banzragch Delgermaa.

During the meeting, the sides discussed trade and economic cooperation.

Sargsyan expressed confidence that EAEU and Mongolia will continue to successfully develop all-round cooperation in accordance with the memorandum of cooperation signed last year.

In response to the suggestion of the Mongolia Ambassador to consider accession of Mongolia to the Eurasian Economic Union or singing a free trade agreement (FTA), Tigran Sargsyan recalled his experience.

“Three years ago, when I was at the head of the government of Armenia, we were facing the same choice: whether to join the Eurasian Economic Union. Back then we carefully analyzed everything, considering all pros and cons. Our decision to join EAEU was very pragmatic, based on thorough calculations of all economic parameters,” he said.

The Ambassador of Mongolia noted that a study group was established, as envisaged in the memorandum, with the aim of developing the economic dialogue between EAEU and the government of Mongolia. Ambassador Delgermaa suggested considering the reduction of import duties on a number of Mongolian goods, and applying the experience of creating the FTA between Vietnam and EAEU to Mongolia.

“Many countries suggest us signing FTAs. They rightly see the Eurasian Economic Union as a vast market for their goods. In this regard, we always ask them a question: once we open our market, what our business will get in return? Our study group should find mutual benefits,” Sargsyan said.

The sides agreed to hold a meeting of the study group in October. It will be co-located, on the proposal of the Mongolian Ambassador, with a joint business forum with the participation of businesses of Mongolia and the EAEU countries.