China and Mongolia have agreed to officially launch a joint feasibility study on a free trade zone (FTZ) next month.

The announcement was made at a joint press session with Mongolian Foreign Minister Damdin Tsogtbaatar and visiting Chinese Foreign Minister Wang Yi in Ulaanbaatar.

The two sides will jointly promote free trade and resist protectionism in order to preserve global multilateral trade, which is at the core of the World Trade Organization.