Influence of WTO law on foreign trade regulation in Mongolia: basic aspects, challenges

Foreign trade regulation in Mongolia has been changed after socialist regime. The first stage of regulation was more aimed to support free trade and investment. Although the second stage is more aimed to support domestic industry. Although the current foreign trade regulation does not functionally regulate the interest of the state in relation with foreign trade. The current legislation is more aimed to set up conditions for free trade and comply with WTO requirements. But does not regulate with aim to protect legal interests of the country. This article covers general aspects of foreign trade regulation, some future trends of regulation and some challenges.