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Ulaanbaatar /MONTSAME/ Mongolia’s trade policies and practices are being reviewed by the World Trade Organization (WTO) on March 17-19.

The meeting is being chaired by Ambassador Herald Aspelund from Iceland and moderated by Ambassador of Malaysia Rashidi Said while Mongolian delegation is headed by Minister of Foreign Affairs B.Battsetseg.

On the first day of the meeting, Minister B.Battsetseg presented Government’s policies on trade and macro economy over the last seven years and further objectives. Delegates from 21 countries made remarks during the meeting aside from over 300 questions that had been sent earlier from 16 WTO member states in regard with the report on Mongolia’s trade policies.

Appraising that Mongolia is making its contribution in strengthening multi-partite trade system by implementing open and free trade policy, the member states pointed out that the Mongolian government has been maintaining an active policy on economic diversification, trade facilitation and promotion of export-oriented production. Concurrently with it, the countries underlined the necessity of ensuring transparency in investment environment and in trade policy and coordination, improving government’s engagement in economy as well as upgrading technical regulation in trade.

The first and second review of the trade policies and practices of Mongolia took place in 2005 and 2014 respectively.