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Russia and Mongolia Mull Creation of Free Trade Zone

Russia and Mongolia could sign a free trade agreement and create transport infrastructure between the Customs Union, Mongolia, and China, Russian's Economic Development Ministry said in an online statement.

During talks between Russian Economic Development Minister Alexei Ulyukayev and his Mongolian counterpart, Nyamzhava Batbayara, the supply of energy between Russia, Mongolia and China was also identified as an area of potential cooperation, according to Thursday's statement.

Ukyukayev suggested that investments in bilateral trade would facilitate the creation of a free trade zone with the Customs Union and Mongolia, the statement said.

The ministers agreed to meet again to lay out a medium-term roadmap for bilateral cooperation.

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