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Mongolia may be landlocked and have no navy, but if it permits foreign ships to be registered under its flag that's obviously what the agreement is about. It's reminiscent of the oil tankers that used to be (still are?) registered to Liberia. If Mongolian registration is the new haven for those who want to evade inspection and regulation, this agreement makes sense.
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The greatness of a nation and its moral progress can be judged by the way its animals are treated. - Ghandi 
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