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Statement by Minister Motegi on the agreement in principle in the negotiations of the Japan-Mongolia Economic Partnership Agreement

July 22, 2014

  1. I wholeheartedly welcome the agreement in principle in the negotiations of the Japan-Mongolia Economic Partnership Agreement (EPA), achieved through diligent rounds of negotiations which began in 2012.
  2. With this EPA, the current proportion of less than 1% of tariff-free goods to total export value from Japan to Mongolia will increase to approximately 96% within a period of ten years after its entry into force, and a massive improvement in market access to Mongolia will be actualized. In particular, in the automotive sector, the tariffs on Japan’s main export items, whole vehicles up to 4500 cc (“period following the production is zero-to-three-years”), will be eliminated immediately at entry into force.
  3. Along with elimination of tariffs, high-level agreements in a broad range of fields were achieved, including the setting of rules for the stable supply of resources and energy such as coal, the liberalization of investment and trade in services, the improvement of rules for electronic commerce, and the protection of intellectual property.
  4. Specifically, in the investment field, owing to the accordance with national treatment and most-favoured-nation treatment in principle towards Japanese investors entering the Mongolian resource and energy markets and the inclusion of the ISDS (Investor-State Dispute Settlement) clause with the object of protecting Japanese investors entering into contractual relationships with the Mongolian Government, the Mongolian investment environment for Japanese investors will improve significantly.
  5. Japan and Mongolia, a nation with rich natural resources, share a close and important relationship, and this EPA is a valuable framework for promoting future trade and investment between our nations. The Ministry of Economy, Trade and Industry (METI) will continue its utmost efforts toward the signing and entry into force of the Japan-Mongolia EPA at the earliest possible date.

Related Information

EPA/FTA

Regional Affairs / Mongolia

 
Last updated:2014-07-25
Ministry of Economy, Trade and Industry
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