PRESS RELEASE: PRESS/TPRB/244

15 and 17 March 2005

TRADE POLICY REVIEW: MONGOLIA

Early market oriented reforms helped the transition to a stable economic growth

Early market-oriented reforms, including establishment of an open trade regime, significantly helped the transition of Mongolia from a centrally planned economy until 1991 to a market-based economy, currently enjoying stable economic growth and moderate inflation, according to a WTO Secretariat report on the trade policies and practices of Mongolia.

Although the report stresses that the structural reform process remains to be completed, Mongolia’s economy is currently on a recovery path and the progress in economic and political reform, like farm privatization and price deregulation, financial sector liberalization and privatization of state entities, has been impressive.

The report also notes the need to diversify Mongolia’s industrial structure into manufacturing and services and says that the policy efforts to ensure macroeconomic stability and to implement structural and other economic reforms needed for sustainable growth would be of great importance to Mongolia’s long-term growth prospects.

The following documents are available in MS Word format.

Secretariat report

> Contents and summary observations (11 pages, 109KB)

> Economic environment (11 pages, 281KB)

> Trade and investment policy regime (11 pages, 202KB)

> Trade policies and practices by measure (21 pages, 422KB)

> Trade policies by sector (29 pages, 342KB)

Government report (22 pages, 204KB)

Chairperson's concluding remarks (coming soon)

Minutes of the meeting are available approximately 6 weeks after the meeting.

Note back to top

Trade Policy Reviews are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Significant developments that may have an impact on the global trading system are also monitored. For each review, two documents are prepared: a policy statement by the government of the member under review, and a detailed report written independently by the WTO Secretariat. These two documents are then discussed by the WTO’s full membership in the Trade Policy Review Body (TPRB). These documents and the proceedings of the TPRB’s meetings are published shortly afterwards.

Print copies of previous TPR publications are available for sale from the WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211 Genève 21 and through the on-line bookshop.

The TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.

Schedule of forthcoming reviews back to top

Paraguay: 27 and 29 of April 2005

Nigeria: 11 and 13 of May 2005

Ecuador: 8 and 10 June 2005