Thursday, July 24, 2014

Japan, Mongolia reach a free trade agreement

(MENAFN) According to Mongolia's Prime Minister, his country and Japan have reached a basic deal on a free trade agreement, QNA reported.

Under the agreement, Mongolia is set to abolish a 5 percent charge on most of Japanese car imports in ten years.

Meanwhile, Mongolia asked Japan to remove or significantly reduce its 38.5 percent charge on Mongolian beef, Japan's News Agency (Kyodo) reported.

It is noted that Japan's main export items to Mongolia include used passenger vehicles, which account for some 45 percent of the total.

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