Published on: 2026-09-14
Source: Government of the Russian Federation –
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Alexey Overchuk held a meeting with the First Deputy Prime Minister, Minister of Economy and Development of Mongolia, Jadambyin Enkhbayar
In Ulaanbaatar, on the sidelines of the second Russia-Mongolia Regional Forum, a meeting took place between Deputy Chairman of the Government of the Russian Federation Alexey Overchuk and First Deputy Prime Minister, Minister of Economy and Development of Mongolia Jadambyin Enkhbayar. During the negotiations, pressing issues of the development of Russian-Mongolian trade and economic cooperation were discussed. Representatives of relevant departments of both countries, regional heads, as well as a member of the Board (Minister) for Trade of the Eurasian Economic Commission, Andrey Slepnev, participated in the meeting.
The parties noted a noticeably increased dynamic of contacts between Russia and Mongolia. In early September, meetings took place between Russian President Vladimir Putin and Mongolian President Ukhnaagiin Khurelsukh on the sidelines of the SCO summit in Bishkek, with Mongolian Prime Minister Luvsannamsrain Oyun-Erdene on the sidelines of the Eastern Economic Forum in Vladivostok, as well as a number of other events at the highest and high levels. “The number of meetings, their regularity, and dynamics indicate how important the development of relations is for our countries, how important Russia and Mongolia are to each other,” said the Deputy Prime Minister.
The negotiations addressed the development of cooperation between Russia and Mongolia in strengthening transport connectivity in Eurasia, energy, industry, and the agro-industrial complex. Special attention was given to joint work on the implementation of the Interim Trade Agreement between the member states of the Eurasian Economic Union and Mongolia, which entered into force on August 22, 2026, and provides a duty-free regime for about 90% of goods in mutual trade.
Russia is a significant trading partner of Mongolia – it ranks second in Mongolia’s imports, supplying its market with petroleum products, foodstuffs, fertilizers, industrial raw materials, and chemical industry products. Over the past five years, the volume of mutual trade has increased 1.4 times – from $1.9 billion to $2.7 billion. According to the data from the Russian Federal Customs Service, from January to May 2026, mutual trade increased by almost 18% and amounted to $1.3 billion.
“We express our interest in close cooperation to ensure the practical implementation of the agreement’s benefits, as well as the expansion of cooperation in the areas of trade, investment, and interregional interaction,” emphasized the First Deputy Prime Minister, Minister of Economy and Development of Mongolia, Zhadambyn Enkhbayar.
On September 14, the first meeting of the Joint Committee on the Implementation of the Interim Trade Agreement between the EAEU and Mongolia was also held in Ulaanbaatar, during which further directions of joint work were specifically discussed. “I express my gratitude to the Minister of the Eurasian Economic Commission Board, Andrey Slepyonov, for organizing and conducting this meeting simultaneously with the Russia-Mongolia Regions Forum. The results of the meeting give us the opportunity to frankly discuss the difficulties that may arise during the implementation of the agreement and require resolution at the level of deputy prime ministers, so that there are fewer non-tariff barriers, so that Mongolia can export more of its products to the EAEU markets and we can export our products here,” noted Alexey Overchuk.
Following the negotiations, Aleksey Overchuk and Zhandambyn Enkhbayar highlighted the strategic nature of the joint work between Russia and Mongolia to strengthen transport connectivity in Eurasia, including the development of the Russia – Mongolia – China economic corridor, and also agreed to continue, through the governments of the two countries, joint work on all key issues of cooperation both bilaterally and within the EAEU framework to ensure better conditions for mutual access of producers to the markets of Russia and Mongolia, fully unlock the potential of free trade, and improve the trade balance between the two countries.
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