Mongolia moves nearer to gaining market economy status - News.MN

Mongolia moves nearer to gaining market economy status

Old News! Published on: 2010.12.22

Mongolia moves nearer to gaining market economy status

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Prime Minister S.Batbold’s aim to adopt
European standards in Mongolia received a boost with the signing on December 20
of a Collaboration and Partnership Agreement between Mongolia and the European
Union. The agreement, signed by the Deputy Minister of Foreign Affairs and
Trade, B.Bolor, and the Department Chief of the Foreign Relations General Board
of the European Commission for Mongolia, Franz Jessen, has a special chapter on
dissemination of EU principles and standards. Mongolia is among the few Asian
countries with which the 27-nation EU has such an agreement of collaboration
and partnership.

The European Commission has also asked for
information that would help it decide whether Mongolia should continue to be on
its list of non-market economies. Prime Minister S. Batbold said both the
agreement and the step to being seen as a fully democratic state and also as a
market economy were significant. Adoption of European standards would help
Mongolia gain access to new technology. He also thanked the EU for promising grants
worth 8 million euro in 2011 and 2012. Mongolia’s development would be
accelerated with the help of the experience gained by European countries over
centuries.

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