ULAN BATOR, May 29 (Xinhua) -- Mongolia and Russia have agreed to work toward a free trade agreement (FTA) to expand bilateral economic cooperation, Mongolia's Foreign Affairs Ministry said Tuesday.
The agreement was reached during a recent meeting between Mongolian Foreign minister Damdin Tsogtbaatar and his Russian counterpart Sergey Lavrov in Moscow.
Tsogtbaatar made an official visit to Russia on May 16-18.
The two nations have already begun joint research on an FTA outline.
Mongolia and Russia expect the free trade agreement to bolster two-way trade and investment, and deepen bilateral ties.