Mongolia to Join Asia Pacific Trade Agreement

Mongolia will officially join the Asia Pacific Trade Agreement in January 2021, benefiting from reduced-tariff trade with China, Bangladesh, India, South Korea, Laos and Sri Lanka, China’s Ministry of Commerce said in an Oct. 26 notice. China said Mongolia will reduce tariffs on 366 items, according to an unofficial translation of the notice, including “aquatic products,” vegetables, fruits, oils, certain chemicals, woods, cotton, yarn and machinery.