JOINT SEMINAR ON “MONGOLIA’S TRADE POLICY ISSUES”
The International Think Tank for Landlocked Developing Countries successfully co-organized a seminar on Trade Policy Issues of Mongolia with ERINA-Economic Research Institute for Northeast Asia.
This seminar encourages debate among researchers, academics, think tanks, and other audiences interested in economic development challenges in Mongolia.
ERINA is a research institute headquartered in Niigata, Japan. The main activity of ERINA is to conduct research, collect and disseminate information on Northeast Asian economies. Also, ERINA is contributing to the formulation and development of the integrated Northeast Asia Economic Sub region, and to the advancement of an international society through evidence based research.
Foreign trade has a large presence in Mongolia’s economy, especially after the country’s transition toward a market economy and opening-up to world markets since the early 1990s. Having joined the World Trade Organization (WTO) in 1997, Mongolia maintains an open and relatively liberal foreign trade policy aimed at supporting the country’s export-led growth strategy. Mongolia continues to apply much lower rates than its existing bounds under the WTO. Moreover, aimed at increasing trade, attracting foreign direct investment (FDI) and promoting industrial development, the Mongolian government is working on creating free trade and economic zones along with industrial and technological parks. Mongolia has recently signed its first ever Economic Partnership Agreement (EPA) with Japan and exploring opportunities to join other regional integration.
Although, the developing and promoting export-oriented high-value-added industries were on the country’s economic development agenda for years, the actual results are far from being profound. After more than two decades of economic transition, the economy is still based on primary industries, with raw materials and low-value added commodities of mining and livestock origins dominating the exports, while being virtually dependent on a single market. Thus, in-depth investigation and understanding the current situation along with exploring further opportunities will be essential for both the policy makers and business community. Bringing together Mongolian researchers specialized in various fields, this seminar aims to get some insights on these issues.
Provide a forum for presentation and discussion of research papers
Academics, researchers, and the general public; approximately 30 participants.
Participate actively in discussions, share views and experiences, engage in networking, and promote greater understanding.
Better understanding of the trade policy issues and make proposal for policymakers
The presented papers will be published in an upcoming issue of ERINA’s English language journal, The Northeast Asian Economic Review.