A statement, following a meeting in
Tokyo on March 12 between the Mongolian Prime Minister Sukhbaatar Batbold and
his Japanese counterpart Yoshihiko Noda, confirmed that the two countries will
enter into negotiations for an Economic Partnership Agreement (EPA) as soon as
possible.

While welcoming the developing
economic cooperation between Japan and Mongolia in the past, the two leaders
acknowledged the importance of providing further impetus to their bilateral
trade and investment.

The joint study group for a
Mongolia-Japan EPA, consisting of delegates from business, academia and
government officials, had provided a positive report one year ago, but that any
further talks had then been interrupted by the Japanese earthquake and tsunami.

Taking into account the
complementary structures of the two economies, the two leaders shared the view
that the conclusion of an EPA, which would be a first trade treaty for Mongolia,
could be of benefit to both economies.

Japan would look to increase its
imports from Mongolia of the latter’s mineral resources, including copper, coal
and rare earths, while it could also increase its exports of industrial
products, including automobiles. As well as providing an export market, Japan
could provide useful investment capital for Mongolia in developing those
natural resources, as well as for infrastructural development.

Source: http://www.tax-news.com