Ulaanbaatar
Mongolia's Resources and Opportunities to be Combined with Japan's High Technology
Economy
Ulaanbaatar, August 19, 2023 /MONTSAME/. Over 100 representatives of
the businesses of Japan and more than 400 representatives of the Mongolian
business sector participated in the "Mongolia-Japan Business
Forum-2023" co-organized by the Japan International Cooperation
Organization (JICA), Mongolian National Chamber of Commerce and Industry (MNCCI),
and the Mongolia-Japan Center for Human Resource Development.
At the Forum, the
participants made presentations and discussed topics such as support for the
development of exports between the two countries, information, communication, digital
technology, climate change, and innovation. The Chairman of the MNCCI T. Duuren
presented the role of the chamber in supporting Mongolian-Japanese business
cooperation. He informed that by the initiative of the MNCCI they are planning
to set up a Mongolia-China-Japan Cooperation Council. Establishment of this
Council and combined use of Mongolia's resources and opportunities, and Japan's
experience, know-how, and high technology will enable to access the Chinese market
with new products, and further expand export of domestic products to the
Southeast Asian market.
Since commencement of the
implementation of the Economic Partnership Agreement, the trade between the two
countries has increased every year. If in 2018 it sharply increased compared to
2016: the export increased by 88.6 percent, the import increased by 69.7
percent, and the total trade turnover increased by USD 242.87 million and
reached USD 580 million, then in 2022, the total turnover of foreign trade has
reached USD 689.4 million.
During the Forum, the
parties signed the record documents of the Technical Cooperation Agreement "Project
to Support the Development of New Zuunmod City and Free Economic Zone".
