Japan start EPA negotiation with Mongolia

On March 12, 2012, METI and MOFA jointly announced Japan and Mongolia will enter into EPA negotiation.

http://www.meti.go.jp/press/2011/03/20120312010/20120312010.pdf

Mongolia have never had FTA with other country, it is their first FTA for Mongolia.
For Japan, considering small trade volume with Mongolia, it would be no significant impact to Japanese economy, however, the benefit would be "access to rich natural resources" in Mongolia.
No time frame is indicated in the press release, just stated the negotiation will start "as soon as possible".