Summary of Treaty
|Official Title||Agreement on trade and economic cooperation between the European Economic Community and Mongolia|
|Type of Agreement||Bilateral|
|Place of Signature||Luxembourg|
|Date of Signature||16/06/1992|
|Date of Entry Into Force||01/03/1993|
|Objective of Agreement||To establish mutual cooperation in trade and economic matters.|
|Remarks||In 1991 Mongolia was granted preferential access to European Community markets via the Generalised System of Preferences. The two Parties accorded each other’s exports the most-favoured-nation treatment and engaged themselves to examine appropriate measures to foster trade and economic relations.
The Agreement on trade and economic cooperation is a wide-ranging trade and economic cooperation agreement. Given the disparity in development levels between the parties, there is provision for financial and technical cooperation. It also includes a commitment to protect human rights (Article 1).
Financial cooperation measures were carried out under the Tacis programme and, since 1994, under the ALA programme.
Concluded for an initial period of 5 years and automatically renewable thereafter on an annual basis (Article 15). Joint Committee meetings in Ulaanbaatar and Brussels were agreed and have regularly taken place since then.
The EU is Mongolia’s fourth trading partner, after China, Russia and the US. Copper and gold mining generate most of Mongolia’s export earnings. The major EU import commodity from Mongolia is cashmere wool and related products (mainly imported by Italy and the UK). The main EU export items are machinery, office equipment, agricultural products and chemicals, coming principally from France and Germany.
The EU-Mongolia relationship has been consolidated over recent years and is set to develop further in the future, also as a consequence of the enlargement of the Union to the East. Several of the new Member States and EU Candidate Countries traditionally maintain close relations with Mongolia and are represented in Ulaanbaatar. The first ever EU-Troika mission to Mongolia on 8-9 June 2006 set another sign for the intensification of relations.
|OJ Reference||L41, 18/02/1993, p. 46|
|Nature of Agreement||Trade Agreement|
|Depositary||Council of the European Union|
|Contracting Parties||European Economic Community, Mongolia|
|Authentic Texts||Danish, Dutch, English, French, German, Greek, Italian, Mongolian, Portuguese, Spanish|
|Conclusion Decision||Council Decision of 8 February 1993 on the conclusion of an Agreement on trade and economic cooperation between the European Economic Community and Mongolia; OJ L41 of 18/02/1993, p.45|
Treaty EEC: Article 113, 235
|General Comments||Framework Agreement ; Comprehensive Agreement|
|Last Update : 11/02/2013|