Japan, Mongolia to launch FTA talks
Mainichi Daily News, Japan
Japan, Mongolia to launch FTA talks
12 March 2012
TOKYO (Kyodo) — Japan and Mongolia are expected to agree to launch negotiations on a bilateral free trade agreement when their leaders meet Monday, as the two countries mark this year the 40th anniversary of the establishment of diplomatic ties.
Prime Minister Yoshihiko Noda and his Mongolian counterpart Sukhbaatar Batbold, who is on a six-day visit to Japan from Saturday, are also expected to agree that the two countries will boost cooperation in the development of natural resources and the peaceful use of nuclear power.
The two countries had aimed to enter FTA talks a year ago, but efforts stalled after the government led by Noda’s predecessor, Naoto Kan, was thrown into turmoil after the catastrophic earthquake and tsunami that hit the country’s northeastern region and triggered the world’s worst nuclear crisis in a quarter century.
Mongolia, whose economy grew by 17.3 percent in 2011, has no FTAs with other countries. Japan is keen on working more closely with Mongolia as the fast-growing country is abundant in natural resources, including coal, copper, uranium and rare earth minerals.
"I expect bilateral investment to double in three to four years" after the planned bilateral trade agreement takes effect, Batbold said in an interview with Kyodo News last month in Ulan Bator.
Batbold also said at that time that Mongolia hoped to receive Japanese technology and expertise for a plan to build its first nuclear power plant.
