The fourth stage of negotiations on the Economic Partnership Agreement between Mongolia and South Korea took place from November 25 to 29 in Seoul, South Korea, with representatives from both countries working towards finalizing key aspects of their trade and economic cooperation.

The two sides have previously held three rounds of talks, where they addressed issues related to protecting national interests, enhancing trade and expanding investment opportunities. The negotiations have already made significant progress.

The Mongolian government is placing a special emphasis on diversifying its exports, with particular attention to obtaining favorable tax and origin conditions for agricultural products. As part of the trade facilitation discussions, the two sides are addressing key issues such as cross-border goods, hygiene and quarantine standards, fair competition, and consumer protection, all of which are essential for protecting Mongolia’s interests and securing preferential conditions in the trade agreement.

The Economic Partnership Agreement is viewed as a critical step in expanding and strengthening trade, services and economic cooperation between the two countries. This agreement will offer Mongolia the opportunity to introduce its goods and services into the South Korean market - one of the world’s top 10 largest economies - facilitating broader market access and fostering long-term economic growth.

This round of talks involved over 70 representatives from relevant Korean ministries and agencies, as well as 51 delegates from Mongolia, including officials from the Ministry of Economy and Development, Ministry of Finance, Ministry of Foreign Affairs, Ministry of Food, Agriculture and Light Industry, Ministry of Environment and Climate Change, Mongol Bank, Financial Regulatory Commission, Communications Regulatory Commission, and the General Customs Administration.