Russia and Mongolia will create a free trade zone on the border area

Chairman of the State Great Khural of Mongolia Gombozhavin Zandanshatar reported on the bilateral decision at a briefing on the results of his visit to RUSSIA. In addition to discussing exports, he signed an agreement on inter-parliamentary cooperation with the top officials of the Federation Council, held business meetings with top management of PJSC Rosneft Oil Company and Russian Railways.

In particular, the negotiations resolved the problem of a large debt of the joint Mongolian-Russian enterprise Ulaanbaatar Railway. The parties agreed to increase its authorized capital and the number of rolling stock units.

On the way back, the former Minister of Foreign Affairs and Trade, and now the HEAD of the Mongolian Parliament, visited Irkutsk, where he graduated from the Institute of National Economy, and met with Igor Kobzev, Governor of the Irkutsk Region, to discuss the creation of an industrial park and a joint venture for the production of cashmere.

The total length of the Russian-Mongolian border is 3485 kilometers. The republics of Altai, Buryatia, Tyva and the Trans-Baikal Territory border on Mongolia.