STUDIES ON FREE TRADE AGREEMENT WITH RUSSIA TO START
Mongolia and Russia are to start studies on Free trade agreement under the trade and economic cooperation. During the recent visit of Foreign Affairs Minister D.Tsogtbaatar to Russian Federation the sides discussed on expanding Mongolia’s trade with Russia and increasing total trade turnover by boosting Mongolian exports and agreed to launch the studies. In addition, the parties agreed to invest the RUB 100 billion loan from Russia to energy, infrastructure and railway sectors. It is planned to spend the loan on expansion of III and IV power plants and construction of railways. A total of 32 projects and programs planned to be discussed during the Shanghai Cooperation Organisation Summit in June in Qingdao, China. The railway, power transmission network and road projects are to start in the first place. As for the road project, Russia and China positively accepted a proposal of Mongolia to construct the Asian highway passing through Mongolia with investments from the three countries.
