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Economy

Japan-Mongolia ties shifting from aid to economic exchange

High-rises under construction in Ulaanbaatar.

ULAANBAATAR -- Hopes are high that a bilateral agreement now in force between Japan and Mongolia will spur economic exchange.

The economic partnership agreement, signed in February 2015, went into effect June 7. Japan "would like to see Mongolia strengthen business ties and develop -- without relying on grant aid," a government source said about the significance of the pact.

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