Belarus, Mongolia aim to triple bilateral trade by 2029

By Elena Teslova

MOSCOW (AA) - Belarus and Mongolia signed a cooperation roadmap for 2027-2029 following talks between their presidents in Minsk, with Mongolia seeking to triple bilateral trade by 2029.

Belarusian President Alexander Lukashenko said after meeting Mongolian President Ukhnaagiin Khurelsukh that the two countries aimed to turn their political understanding into major economic projects.

"The signed agreements, above all the roadmap for cooperation between Belarus and Mongolia for 2027-2029, will give impetus to this process," Lukashenko said.

He said bilateral economic relations have returned to a growth trajectory, although their potential had yet to be fully realized.

Lukashenko cited the interim trade agreement between the Eurasian Economic Union and Mongolia, which entered into force in July, as an additional tool for expanding cooperation.

He said the agreement had eliminated customs duties on Mongolian cashmere, leather and wool products.

Lukashenko said Belarus was ready to supply Mongolia with food products, quarry equipment, passenger and municipal vehicles, agricultural machinery and dairy complexes.

He also noted that Minsk had helped Mongolia with petroleum products this year.

"Right now, the world is balancing on the edge of a shortage, in particular of sugar and vegetable oil. Food prices are at a four-year high. But there is more to come. In this regard, you can rely on Belarus," he said.

For his part, Khurelsukh said the two sides discussed Mongolian purchases of Belarusian petroleum products, tractors, combine harvesters and other agricultural machinery.

The leaders also discussed the possibility of establishing tractor assembly facilities in Mongolia, he said.

Khurelsukh described Belarus as a transport and logistics hub providing Mongolia with access to European markets, while Mongolia could serve as a gateway to Asia for Belarus.

He highlighted the "Mongolian Vector" container rail route connecting Brest and Ulaanbaatar as an example of growing transport cooperation.

The two leaders also agreed to expand cooperation in light industry, including the production of fabrics combining Belarusian linen with Mongolian wool and cashmere.

They further agreed to organize Days of Culture in both capitals in 2027 to mark the 35th anniversary of diplomatic relations.