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Events
Amendments to Marrakesh Agreement will serve for landlocked countries’ interests www.en.montsame.mn
Ulaanbaatar /MONTSAME/ Minister of Foreign Affairs Ts.Munkh-Orgil presented a draft bill on ratifying the Protocol on the amendments to the Marrakesh Agreement on Establishing the World Trade Organization, and draft amendments to the Law on Custom Tariffs and Duty, on November 15.
Mongolia joined the WTO in 1997, becoming a party to the General Agreement on Tariffs and Trade (GATT) and the Agreement on the Rules of Origin.
The parliament passed the Custom Tariffs Law in 2008 and amended it in 2015. However, certain provisions of the law are in conflict with Mongolia’s duties before the above mentioned international agreements. For instance, the Mongolian customs require certificate of origin from goods for imports, otherwise impose a doubled amount of customs duty. The regulation has been causing difficulties, having lengthened the period of custom clearance obtainment.
The protocol on amending the Marrakesh Agreement – the Trade Facilitation Agreement was initiated by landlocked countries such as Mongolia, Bolivia and Paraguay in 2003, and was backed in 2013.
The Agreement will be take force after ratification by 110 countries, the two thirds of all parties of the Marrakesh Agreement. The Trade Facilitation Agreement has been ratified by 96 countries, so far.
With the adoption of the Trade Facilitation Agreement, landlocked countries will be able to enjoy assistance and support from the development partners, to implement foreign trade-oriented projects, to reduce costs of external trade, to increase exports, to improve road and railway systems and to alleviate commerce and transport through various projects.
Published Date:2016-11-16
