Mongolia completed its domestic procedure for acceding to the Asia-Pacific Trade Agreement (APTA) last year and became full member from 1st Jan 2021.
The APTA is a preferential regional trade agreement formerly known as the Bangkok Agreement. APTA aims to promote economic development of its members through the adoption of mutually beneficial trade liberalization measures that contribute to regional trade expansion and economic cooperation.
APTA Members :
Bangladesh (original member, 1975)
China (acceded in 2001)
India (original member, 1975)
Republic of Korea (original member, 1975)
Lao People’s Democratic Republic (original member, 1975)
Sri Lanka (original member, 1975)
Mongolia (acceded in 2013, full membership in 2020)
By joining the agreement, Mongolia’s domestic companies will be able to enjoy 5-100 percent tax credit on a total of 10,667 items to the six member countries of the Asia-Pacific Trade Agreement, which has more than 2.9 billion consumers and rapid economic growth.
Within the framework of the agreement, the certificate of origin of the first Asia-Pacific Trade Agreement No. 01 to be exported from Mongolia to China was issued to the national rapeseed company “Sumber Commodit”. As a result, it is now possible to enjoy 100 percent customs tariff discount.