Japan and Mongolia Signed a Comprehensive Economic Partnership Agreement (EPA)
Negotiations for the agreement started in 2012. Under the deal that covers a wide range of products including beef and cars, all Mongolian exports to Japan and 96% of Japanese products exported to Mongolia will be exempt from tariffs within the next decade. Japanese exports to Mongolia were estimated at $288 million in 2013.
The EPA includes a substantive investment protection chapter and an investor-State dispute settlement mechanism.