The FTA will be valid for three years, with a mutual option to extend for another three years.

The Eurasian Economic Union (EAEU), comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, signed a temporary free trade agreement (FTA) with Mongolia on June 27, 2025.

The agreement will last for three years, with an option to extend for an additional three years if all parties agree.

The signed agreement marks a significant step in trade relations between the EAEU and Mongolia, covering 367 commodity sub-items with reduced or eliminated customs duties. Following the signing, the Interim Trade Agreement will undergo ratification procedures in Mongolia and the EAEU member states to facilitate its implementation.

The FTA aims to strengthen cooperation by reducing or eliminating duties on select goods, promoting mutual trade, and expanding trade opportunities. It also seeks to integrate EAEU member states and Mongolia more closely into regional and global value chains.