The second meeting of the Joint Committee on Cooperation between Mongolia and the European Free Trade Association (EFTA) took place on October 5 in Ulaanbaatar to discuss ways to deal with the current challenges in trade and economic cooperation between the parties.
EFTA is an intergovernmental organization of Iceland, Liechtenstein, Norway, and Switzerland, which was set up to promote free trade and economic cooperation among its members within the world.
Head of the Foreign Trade and Economic Cooperation at the Mongolian Ministry of Foreign Affairs and Deputy Permanent Representative of the Principality of Liechtenstein to the United Nations Office in Geneva Pascal Schafhauser chaired the meeting, and the sides exchanged views on the current situation and future plan of trade and economic cooperation between EFTA and Mongolia, and possible areas to develop investment, renewable energy, agriculture and light industrial cooperation.
During the meeting, the sides focused on finding a solution to solve the two parties’ trade and economic cooperation issues, and the EFTA delegates agreed to study the possibility to provide Mongolia with technical assistance, training seminars, and workshops.
The EFTA delegates agreed to collaborate with Mongolia to help the country export its products to EFTA’s market under the World Trade Organization’s trade facilitation agreement.