EAEU-Mongolia trade deal to take effect July 22, cutting tariffs
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The interim trade agreement between the Eurasian Economic Union and Mongolia will enter into force on July 22, 2026, the Eurasian Economic Commission announced. The deal will slash tariffs on key Mongolian exports including cashmere, meat, and dairy products. It marks the first free trade pact between the EAEU and a non-member state in East Asia.
The Agreement
The interim trade agreement between the Eurasian Economic Union and Mongolia, signed in 2025, will officially take effect on July 22, 2026. The Eurasian Economic Commission confirmed the start date, noting that the deal will reduce or eliminate tariffs on a range of Mongolian goods. Key products include cashmere, meat, dairy, and textiles, which account for a significant share of Mongolia's exports to EAEU countries.
Tariff Reductions
Under the agreement, Mongolia will gain preferential access for 85% of its export product lines to the EAEU market, with tariffs on cashmere and wool cut by 50%. Meat and dairy products will see tariff reductions of up to 30% over three years. In return, Mongolia will lower duties on EAEU machinery, vehicles, and processed foods.
Strategic Context
The deal is the EAEU's first free trade agreement with an East Asian nation, signaling the bloc's push to expand economic ties beyond the post-Soviet space. For Mongolia, the agreement diversifies trade partners beyond China and Russia, which together account for over 80% of its foreign trade. The EAEU includes Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan.
What's Next
The agreement is set to be implemented gradually, with full tariff elimination on most goods by 2030. It remains unclear how the deal will affect Mongolia's existing trade relationships with China and other regional partners.
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EAEU-Mongolia trade deal to take effect July 22, cutting tariffs
