EU relations with Mongolia have been developing positively and comprehensively since 1989. The EU regards Mongolia as an important partner and is involved in national and regional cooperation activities on the ground. The EU is actively supporting Mongolia in preparation for the ASEM Summit to be held in Ulaanbaatar in July 2016.
In April 2013, a Partnership and Cooperation Agreement was signed during the visit of EU High Representative/Vice President Catherine Ashton. The Agreement provides the legal framework for expanding EU-Mongolia relations and covers such issues as political dialogue, trade, development assistance, cooperation in the field of agriculture and rural development, energy, climate change, research and innovation, education and culture. In November 2013, President Jose M. Barroso visited Mongolia, first time ever a President of the European Commission had visited the country. In June 2015, President Elbegdorj visited Strasbourg and delivered a speech on Mongolia's transition to democracy and its role as an EU partner in the region. On that occasion President Elbegdorj also held talks President of the European Commission Jean-Claude Juncker.
The EU has become Mongolia’s third biggest trading partner, and Mongolian goods already enter the EU market virtually tariff-free under the current Generalized Scheme of Preferences
For 2014-2020 development assistance has increased by 100% up to 65m€ with focus on: (a) improved governance of revenues for inclusive and sustainable growth and (b) vocational training for better employment opportunities.
Six EU member countries have embassies in Mongolia – Bulgaria, the Czech Republic, France, Germany, Hungary and the United Kingdom. The others are accredited from Beijing – including the EU's delegation which has a liaison officer based in Ulaanbaatar.