Today’s plenary session of the Mongolian Parliament (December 23, 2021) ratified the “Agreement between the Government of Mongolia and the Government of the People’s Republic of China on establishing “Mongolia-China Zamiin-Uud and Erlian Economic Cooperation Zones”
Firstly, in August 2014, a Memorandum of Understanding was signed between the Ministry of Economic Development of Mongolia and the Ministry of Commerce of the People’s Republic of China to study the establishment of a free economic cooperation zone between Mongolia and China. During the visit of the President of Mongolia to China in November 2015, a Memorandum of Understanding was signed between the Ministry of Industry of Mongolia and the Ministry of Commerce of the People’s Republic of China to strengthen cooperation.
In May 2016, the General Plan of the Zamiin-Uud and Erlian Economic Cooperation Free Zones was signed and approved. In order to intensify this work, a working group consisting of representatives of relevant ministries and agencies was established, and as a result of the research and subsequent bilateral meetings, it was concluded that “it is technically and economically feasible to establish an economic cooperation zone”.
The agreement proposal was discussed in detail and agreed in principle by both working group, and was successfully signed in March 2019 in Beijing, China. On June 4, 2019, representatives of the two governments signed the agreement in Beijing.
The Government of Mongolia submitted a draft law to ratify the agreement in July 2019, which was approved by the Parliament’s Standing Committee on Security and Foreign Policy and submitted to the plenary session of the Parliament.
Agreement purpose “For the purpose of developing economic cooperation of the border regions of Mongolia and the People’s Republic of China, the Parties shall develop the Cooperation Zone as a reference /model zone of the friendly cooperation of Mongolia and China by enabling coherent development of and creating favorable environment for manufacturing, service, trade and investment in the cooperation Zone”.
ZAMIIN-UUD FREE ZONE GOVERNOR’S OFFICE
