An online meeting of the European Union-Mongolia Subcommittee on Trade and Investment under the auspices of the Joint Committee was held on March 10, 2022. Mr. Ulziisaikhan Ganbold, Director-General of Foreign Trade and Economic Development Department of the Ministry of Foreign Affairs of Mongolia, chaired the online meeting from the Mongolian side, while Mr. Marco Chirullo, Deputy Head of Unit, DG TRADE, co-chaired the meeting from the EU side.
The subcommittee meeting participants exchanged views on increasing the benefits of the EU Generalized Scheme of Preferences (GSP+) for Mongolian exporters as well as on the importance of implementing 27 international conventions on labour, environment, human rights, good governance and complying with other GSP+ requirements. It was also agreed to further promote the Registered Exporter System (REX) and solve minor technical problems that arose during the implementation in Mongolia.
The parties informed each other on the socio-economic developments and identified potential areas of cooperation in synergy with the development agendas of Mongolia and the European Union. To support the bilateral trade and cooperation, the parties discussed the start of negotiations on geographical indications agreement, as well as opportunities in the field of renewable energy and geology.