On the sidelines of the Supreme Eurasian Economic Council meeting in Minsk, Deputy Prime Minister Alexei Overchuk engaged in discussions with Mongolia’s First Deputy Prime Minister Nyam-Osor Uchral. The parties addressed pivotal matters concerning bilateral and multilateral trade and economic cooperation.
Alexei Overchuk extended his congratulations to Nyam-Osor Uchral on his appointment to this distinguished position, expressing confidence that his extensive professional experience would contribute significantly to further fortifying the amicable relations between Russia and Mongolia.
Both parties underscored the critical importance of expediting the ratification of the interim free trade agreement between the Eurasian Economic Union and Mongolia, which was signed in Minsk during the Supreme Eurasian Economic Council meeting. They undertook a comprehensive review of various matters, the resolution of which would facilitate the effective implementation of the agreement.
The Deputy Prime Minister emphasised that bilateral cooperation continues to develop at a dynamic pace. Mongolia remains an essential trade partner for Russia. In 2024, bilateral trade rose by 17.8 percent to reach $2.59 billion. From January to April 2025, mutual trade grew by 5.9 percent, totaling $861.2 million. This agreement is set to elevate trade and economic relations between Russia and Mongolia to a new and higher level, thereby contributing to an improved trade balance between the EAEU member states and Mongolia.
