Mongolia’s import from India reaches USD 30 millionEconomy
Ulaanbaatar /MONTSAME/. Mongolia-India cooperation meeting themed ‘Expanding 3T Horizons for India and Mongolia – Trade-Technology-Tourism’ was held at the Mongolian National Chamber of Commerce and Industry (MNCCI) on March 25, 2022
The meeting was attended by Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P. Singh, former Ambassador Extraordinary and Plenipotentiary of Mongolia to the Republic of India G.Ganbold, other relevant officials, and business representatives.
In his opening remarks delivered at the meeting, MNCCI
President O.Amartuvshin emphasized the great potential that the two
countries have for trade and economic cooperation in the fields of oil,
tourism, pharmaceuticals, and information technology.
Mongolia imports a variety of medicine, pharmaceuticals, animal vaccines, tea, sugar, telecommunications equipment, and trucks from India. The import reached USD 30 million last year. On the other hand, Mongolia mainly exports minerals such as coking coal, fluorspar, copper concentrate, iron ore, and uranium, which totaled about USD 200 thousand in 2021.
The meeting focused on bilateral relations, non-mining cooperation, traditional medicine trade, and tourism and hospitality services. The sub-meeting on tourism touched upon the health and religious tourism between the two countries, while the education meeting focused on education opportunities in India, the Indian Technical and Economic Cooperation (ITEC), and the Council for Cultural Relations (ICCR) scholarship program.