Ulaanbaatar
Mongolia-Kazakhstan business meeting taking place
Economy
Ulaanbaatar /MONTSAME/ Mongolia-Kazakhstan business meeting started today at Blue Sky hotel. More than 20 representatives of 11 companies from Kazakhstan in food production, heavy machinery, tech assembly, pharmacy, construction and automotive manufacturing are participating in the business meeting being held by the Mongolian National Chamber of Commerce and Industry (MNCCI), the Foreign Trade Chamber of the Republic of Kazakhstan, the Ministry of Industry and Infrastructural Development of Kazakhstan and the National Chamber of Entrepreneurs of Kazakhstan ‘Atameken’.
“Trade turnover of Mongolia reached USD 4.1 billion as of last April and it is an insufficient result that the country is engaging in trade with Kazakhstan equal to 0.2 percent of it. Therefore, we should not lose the opportunity to cooperate with Kazakhstan. There is room for two countries to collaborate supporting each other,” MNCCI President O.Amartuvshin said.
"I have no doubt that direct flight being conducted to Kazakhstan would open an air way to reach Arab countries and Europe and the number of fights to other countries passing through Nur-Sultan would be increased. Properly resolving issues of direct transportation logistics between the two countries is the main factor to back trade turnover between Mongolia and Kazakhstan," he added.
To support regional cooperation, Mongolian part intends to put request to the Eurasian Economic Union (EAEU), in which Kazakhstan has a membership status, to give preference on transportation logistics, which is crucial condition for Mongolia. The request will be put forward to the EAEU during a meeting to be held soon in Kazakhstan and Krasnoyarsk, Russia.
Representatives of ‘Eurasian foods’ and ‘Sultan marketing’ food production companies, ‘Saryarka
Autoprom’ and ‘Hyundau comtrans Kazakhstan’ automotive companies, ‘Izoterm’ building insulation
material producer, ‘Bal textile’, ‘Byomer’ and ‘Jas-Kanat’ metallurgical
companies, ‘Minova Kazakhstan’ mining company, ‘TK Pharm’ and ‘Fores’ window and
door manufacturing companies are attending from Kazakhstan in the business meeting.
As of November, 2018, bilateral trade turnover reached USD 74.4 million. Among export products of Kazakhstan to Mongolia, tobacco makes up 20.3 percent, sanitary products 19.1 percent, washing powder and cleansing agent 12.6 percent, wheat flour and rye flour 7.8 percent and other groceries and petroleum products 4.1 percent respectively.
