Trade Policy Review

Report by

Mongolia

Revision

Pursuant to the Agreement Establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), the policy statement by Mongolia is attached.

Contents

1   Introduction.. 3

1.1   Impacts of the COVID-19 pandemic. 3

2   MAJOR DEVELOPMENTS IN MONGOLIA'S TRADE AND ECONOMIC SECTORS (2014‑2020). 4

2.1   Macroeconomic Situation. 4

2.2   Foreign Trade and Foreign Investment 4

2.3   Regional Cooperation and Free Trade Agreements. 7

2.4   World Trade Organization. 8

2.5   Changes in Legislation. 8

3   developments in mongolia's main economic sectors. 9

3.1   Minerals. 9

3.2   Agriculture. 10

3.3   Industry. 11

3.4   Power and Energy. 11

3.5   Communications. 11

3.6   Road and Transport 13

3.7   Construction and Urban Development 13

3.8   Banking and Financial Sector 14

3.9   Services. 15

3.10   Tourism.. 15

4   CURRENT GOALS OF MONGOLIA'S TRADE AND ECONOMIC COOPERATION.. 15

Goals of the Government: 15