Ulaanbaatar, November 19, 2025 /MONTSAME/. The Mongolian National Chamber of Commerce and Industry (MNCCI), in cooperation with the Embassy of the Republic of Indonesia in Beijing, held the inaugural “Trade and Investment Outlook” business forum in Ulaanbaatar, bringing together more than 40 business delegates from the two countries.

Representatives from the Ministry of Foreign Affairs and the Investment and Trade Agency delivered presentations on Mongolia’s economic and business environment. Participants discussed opportunities for cooperation in mining, agriculture, education, tourism, pharmaceuticals, and other strategic sectors.

Bilateral trade has increased in recent years, reaching USD 51.1 million in 2024 and USD 36.11 million in the first half of 2025. Mongolia exports fluorspar and wool yarn to Indonesia, while importing mining machinery, equipment, food and consumer goods, palm oil, and pharmaceutical products. Officials highlight opportunities.

MNCCI President Lkhagvajav Baatarjav: “Our two countries have maintained friendly relations for 69 years and expanded cooperation across political, economic, and cultural sectors. This long-standing partnership forms the foundation for today’s meeting. Mongolia and Indonesia both hold strategic positions in their regions and have significant economic potential. In recent years, our business relationships have strengthened through practical cooperation and new initiatives, and trade turnover has been steadily increasing. This shows that we now have an opportunity to advance our cooperation on a larger scale. Mongolia has resources in mining, agriculture, energy, tourism, and technology, while Indonesia leads ASEAN in technology, innovation, and investment. There is broad potential—from halal meat and food production to machinery, logistics, and tourism—for us to establish new partnerships. MNCCI is always ready to support bilateral business cooperation at all levels and help open new avenues for investment and partnership.”

Non-resident Ambassador of Indonesia to Mongolia Djauhari Oratmangun: “I am confident that this event serves as an important bridge for connecting business communities from both countries. Looking ahead to the 70th anniversary of diplomatic relations next year, I hope that the discussions and projects introduced today will turn into concrete results by that time. In recent years, many young Indonesians have shown interest in visiting Mongolia. I was surprised to learn how much that interest has grown. In recent years, a growing amount of interesting information about Mongolia has appeared online and in global media. Therefore, the number of Indonesian tourists to Mongolia is likely to rise next year. The new direct flight between Mongolia and Singapore also helps, as Singapore is only about one-hour flight from Indonesia. We expect this route to boost trade and the flow of people. Indonesia is very interested in importing halal-certified meat and meat products from Mongolia. Indonesia is a manufacturing country—we produce a large amount of pharmaceutical products, and we are keen to export them to Mongolia. We also see potential in supplying fruit and fruit-based products. As the 70th anniversary approaches, we must strive to elevate cooperation to a higher level. This will lead to major progress in the economic and trade fields.”

MNCCI Secretary General Saruul Bulgan: “Next year marks the 70th anniversary of diplomatic relations between our two countries. In this context, more than 20 Indonesian representatives—including five major companies and officials—have come to Mongolia to discuss strengthening trade and developing new cooperation plans. Indonesia is the only ASEAN member in the G20, which reflects the scale of its economy. There is a wide range of opportunities for us to work together. We particularly discussed how to increase halal meat exports and how to meet certification requirements. Mongolia also emphasized the importance of cooperation in mining exploration and extraction. Additionally, we called for working with Mongolia in the field of green energy and bringing investment into this area. Currently, Mongolia exports only about USD 300,000 worth of goods to Indonesia, mainly raw agricultural materials such as wool and yarn, while importing USD 51 million worth of goods, including heavy machinery and pharmaceuticals. Mongolia has now opened its embassy in Jakarta, and Ambassador D. Enkhtaivan presented his credentials last year. With improved diplomatic presence, we need to focus on meeting health and hygiene standards for meat exports and work closely with professional organizations such as the Mongolian Meat Association to access this large market of 280 million consumers.”