Four MPs led by Z.Enkhbold have returned from Japan where they held talks on concluding a bilateral Economic Partnership Agreement (EPA). Former Prime Minister S.Bayar initiated the move for the EPA and President Ts.Elbegdorj signed a memorandum during his official visit to Japan last November.  The EPA would allow freer movement of capital and labor between the two countries and allow Mongolia to export certain products to Japan without having to pay tax. Mongolia hopes to sell ecologically certified meat, milk and seabuckthorn to Japan while that country would get a chance to invest in coal, uranium and copper processing units.

The Mongolian MPs met with Prime Minister N.Kan, the President of the Farmers’ Association, Ministry of Foreign Affairs officials, the Chief of the Japanese-Mongolian Economic Committee, senior officials of the Ministry of Agriculture and Fishing, the Speaker of the House of Representatives, and former Prime Minister T.Kaifu.

Apart from officials, the MPs met with representatives of sectors that could import Mongolian goods. They included Jetro, which promotes Japanese foreign trade and also advertises Mongolian goods and products; the Economic Organizations’ Federation, and Nipon Ham, a meat factory.

The agreement is likely to come into force within six months but it has first to be cleared by the Parliament of both countries.