In Kyrgyzstan and Mongolia, preparations are underway to introduce a new preferential trade regime that could significantly change food prices in the market. At a meeting of the relevant committee of the Jogorku Kenesh held on February 16, deputies approved the ratification of the agreement signed last summer in the first reading.
According to the Deputy Minister of Economy and Commerce Choro Seyitov, the agreement includes a reduction in customs duties on 367 commodity items. The issue of importing food products particularly interested the deputies. A representative of the Ministry of Economy noted that meat products, specifically Mongolian meat, will be included in the list of goods with reduced tariffs. In his opinion, this will create healthy competition in the domestic market and make the product more accessible to consumers.
In addition to meat, the agreement also provides for benefits on the import of vegetables, fruits, beans, and various types of industrial equipment. The agreement is set to last for three years with the possibility of automatic extension for the same period, provided that all established norms are met.
