The enactment of the 'Agreement between Japan and Mongolia for an Economic Partnership (EPA)' by the governments of Japan and Mongolia in June last year is expected to further enhance reciprocal economic cooperation and vitalize the two countries' economies in a wide range of fields, along with the liberalization and facilitation of trade and investment between the two countries. In addition, in March 2013, the 'ERCH Initiative' was proposed by Prime Minister Abe in expectation of promoting the economic relationship between the two countries. Following this initiative, in July 2014, 'ERCH Initiative Plus', and, in March 2017, the 'Japan-Mongolia Mid-term Action Plan for a Strategic Partnership' were agreed on by the two countries' leaders, supplementing the original and resolving to promote financing utilizing this credit line effectively. This loan is in line with such measures of the two countries, and through the promotion of Japanese exports, it contributes to maintaining and strengthening the Mongolian economy, as well as the international competitiveness of Japanese industries.

Published Date:2017-05-31