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Kazakhstan - Mongolia: trade relations became stronger.

07 February 2018
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With the help of the national chamber of entrepreneurs of the Republic of Kazakhstan “Atameken” signed memorandum between Kazakhstan and Mongolia, aimed at the trade relations development.

February 7, Atameken held a meeting with representatives from the Mongolian national chamber of commerce and industry. Deputy Chairman of the board of “Atameken” Eldar Zhumagaziev, the president of the Mongolian national chamber of commerce and industry Magvan Ounchimeg, representatives of the regional development department of “Atameken”, representatives of the chamber of commerce of Kazakhstan and delegation of Mongolia took part in the event.

Deputy Chairman of the board of “Atameken” Eldar Zhumagaziev in his greeting speech informed the delegation about directions of work and national chamber of entrepreneurs’ structure.

“You can be assured that our joint work will be useful to both countries. Kazakhstan and Mongolia have no direct access to the sea that’s why we need to discuss in what industries we need to establish effective cooperation”- said Eldar Zhumagaziev.

According to the Deputy Chairman of the board, established partnership with Mongolia will be effective in the areas of agricultural production, organic production output.

“Our main goal is to establish cooperation. We are glad that you accepted our proposal and agreed to cooperate in such a short time. I am sure that we can implement particular projects, beneficial to both countries, and to contribute a lot to the economy of our countries”- said the president of the Mongolian national chamber of commerce and industry Magvan Ounchimeg.

Delegates commented that for Mongolia it’s very important to have partners who are ready to support in any area.  The importance of such support was mentioned in the report to the international associations asking for the assistance in stabilization of the economy. The establishment of trade relations on the basis of memorandum of mutual trade is very important for both countries from an economic perspective.

Let us remind that Mongolian national chamber of trade and commerce was founded in 1960 within the Ministry of Commerce of the Republic of Mongolia. The chamber also has national arbitration court.

For reference:

In 2016 the turnover between Kazakhstan and Mongolia was 77, 900000 $ including the export from Kazakhstan which was 77,05 millions of dollars. According to statistics, in 2016 the export to Mongolia has increased by 44%.

Table of turnovers between Mongolia and Kazakhstan:

Type of trade, millions in US dollars

2012

2013

2014

2015

2016

export

52,7

 

62,8

58,3

53,5

77,05

import

0,0018

0,841

0,623

0,001

0,869

turnover

52,701

63,641

58,923

53,501

77,919

Source: Trademap, international movement of goods table by the International Trade centre (branch organization of UNCTAD/WTO)

Exported goods: tobacco and tobacco substitutes, leather products, essential oils, products from grain etc.

Imported goods from Mongolia: print products, woven goods, animal origin products etc.

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