February 23, 2015

SURROUNDING THE TOOTHLESS DRAGON:

Mongolia Signs Economic Deal With Japan to Offset Chinese and Russian Trade Domination (Alicia J. Campi, 2/20/15, Eurasia Daily Monitor)

The new Prime Minister of Mongolia, Chimediin Saikhanbileg, whose 'Reconciliation Government' has been in power less than three months, visited Japan on February 9-11 to sign a Mongolian-Japanese Economic Partnership Agreement (EPA) with his Japanese counterpart, Shinzo Abe. This economic partnership agreement, effective immediately, was the first for Mongolia and the 15th for Japan. Prime Minister Abe noted that the EPA took three years to negotiate and now "will become an important foundation for simultaneously forwarding two objectives to consolidate our relations and boost Mongolia's economic development" (The Mongol Messenger, February 13). The Japanese also gave the Mongolians an additional soft loan worth 36.8 billion yen ($310 million), which will be used to complete the construction of Ulaanbaatar's new international airport scheduled to open in 2016. In the February 10 joint press conference, Saikhanbileg responded by emphasizing, "The EPA is very significant to increase the flows of bilateral trade, investment and services and intercitizen exchange, as well as to connect Mongolia to global markets and regional economic integration" (The Mongol Messenger, February 13). He noted that Mongolia wanted to learn about Japanese techniques to commercialize value-added products sold into foreign markets so as to link the Mongolian market with regional industrial networks.

Posted by at February 23, 2015 5:46 PM
  

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