Mongolia has reached a critical juncture and is undergoing a process of foreign policy modernization. The burgeoning relations between Ulaanbaatar and Central Asian states signifies a strategic initiative aimed at balancing its partnerships with Russia and China. Since 2020, Mongolia has augmented its diplomatic activities with Central Asian countries, as evidenced by the Mongolian President's visit to Uzbekistan and Kazakhstan in 2024. Notwithstanding the prevailing positive development dynamics, economic relations between Mongolia and Central Asia remain modest but growing, particularly in trade with Kazakhstan, Kyrgyzstan, and Uzbekistan, where exports have increased significantly.
Sri Lanka is the only country in the Asia region currently engaged in discussions with US officials to renegotiate tariffs imposed under US President Donald Trump’s administration, according to deputy economic minister.
China confirmed on Friday details on the framework of a trade deal with the United States, saying Washington would lift "restrictive measures" while Beijing would review and approve items under export controls.