The document includes a reduction in tariffs
At the meeting during the second reading, the deputies of the Jogorku Kenesh supported the bill on the ratification of the Temporary Trade Agreement concluded between the Eurasian Economic Union and Mongolia.
This agreement was signed on June 27, 2025, in Minsk and aims to deepen economic cooperation and create conditions for the free movement of goods and capital among the participants.
The document includes mutual reductions in customs duties and covers 367 commodity items. In particular, the Mongolian side will provide preferences that will cover approximately 85% of Kyrgyz exports to Mongolia. The average rate on goods from Kyrgyzstan will decrease from 5.5% to 2.8%, allowing exporters to save up to $100,000 per year on customs payments.
According to the information from the authors of the bill, there has been significant growth in trade between Kyrgyzstan and Mongolia in recent years. From 2019 to 2023, trade turnover increased by 60%. In 2023, it amounted to $3.83 million, which is 40% more compared to the previous year.
In 2024, trade volume reached $10.2 million, increasing 2.7 times compared to 2023, with exports from Kyrgyzstan amounting to $8.9 million (a growth of 5.2 times), and imports totaling $1.27 million.
From the beginning of 2025 to May, the trade turnover between the countries amounted to $3.13 million, which is 15.9% more than in the same period last year.
The main goods that Kyrgyzstan exports to Mongolia include fruits, nuts, confectionery, wool, leather, and petroleum products (including aviation fuel).
At the same time, Mongolia supplies Kyrgyzstan with passenger cars and spare parts, dairy products, potatoes, tea, fruit juices, printed materials, and perfumery-cosmetic products.
The explanatory note to the bill states that the agreement will also allow Kyrgyz agricultural producers to export honey, dried fruits, fresh apples, strawberries, chocolate, wafers, and cookies to Mongolia duty-free. Preferences will extend to mineral water, juice mixtures, pasta, and cereal products.
As for the industrial group of goods, duty-free supplies will be possible for cotton waste, clothing made from synthetic and artificial fibers, glass, LED lamps, and other products.
The agreement is valid for three years and can be extended for another three years under existing conditions.
