The European Union and Mongolia signed a Partnership and Cooperation Agreement (PCA) in June 2013, marking a significant milestone in their bilateral relations. The agreement seeks to strengthen and deepen cooperation between the two parties across various areas such as economic, social, and environmental issues.

The PCA provides a framework for dialogue and cooperation in areas such as trade and investment, human rights, democracy, and the rule of law. It also aims to enhance mutual understanding and cultural exchanges between the EU and Mongolia.

One of the key areas of cooperation under the PCA is trade. The agreement seeks to promote trade and investment between the EU and Mongolia, leading to increased economic growth and employment opportunities in both regions. The EU is one of Mongolia`s largest trading partners, and the PCA provides a stable and predictable environment for trade relations between the two regions.

Furthermore, the PCA aims to support Mongolia`s sustainable development by promoting the country`s social and economic progress. The agreement emphasizes the importance of protecting the environment and promoting sustainable development, including the implementation of sustainable mining practices.

In addition, the PCA aims to strengthen cooperation in the field of democracy and human rights. The EU and Mongolia will work together to promote democracy, human rights, and the rule of law, which are essential for the long-term stability and prosperity of both regions.

Overall, the EU-Mongolia Partnership and Cooperation Agreement is a significant step forward in the bilateral relations between the EU and Mongolia. It provides a solid framework for cooperation and dialogue between the two parties, enhancing their economic, social, and cultural ties. The agreement`s focus on sustainable development, trade, democracy, and human rights is vital for creating a stable and prosperous future for both regions.