Mongolia exports cashmere and wool products of USD 306.1 thousand to Kazakhstan

A Mongolia-Kazakhstan business meeting was held on June 4 in the Blue Sky Tower.

Co-organized by the Mongolian National Chamber of Commerce and Industry (MNCCI), the Kazakhstan’s Ministry of Industry and Infrastructure Development and the National Chamber of Entrepreneurs of Kazakhstan "Atameken", the meeting attracted more than 20 representatives of 11 companies from Kazakhstan in food production, machinery, tech assembly, pharmacy, construction and automotive manufacturing and more than 90 representatives of Mongolian 67 companies.

O.Amartuvshin, Chairman of the MNCCI, made the opening remarks, underlining that as a member of the World Trade Organization (WTO), Mongolia makes trade with many countries, but the country should utilize all opportunities of the regional commercial space and markets. Taking such opportunity, Vietnam has managed to increase its trade with Kazakhstan by 10-20 times, so Mongolia should maximize the trade with Kazakhstan into a sufficient volume, he said.

“Mongolian external trade reached USD 4.1 billion as of April 2019, but the trade volume with Kazakhstan made up only 0.2 percent, which is in an extreme disappointing level. Therefore, we should not lose a potential to enhance the trade relations with Kazakhstan. Our countries have a great opportunity to collaborate in supporting each other,” O.Amartuvshin said.

Emphasizing the importance of recently opened direct flight between Nur-Sultan and Ulaanbaatar cities for boosting the bilateral trade, the MNCCI President said there is 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 increase. A proper management for direct transportation logistics between the countries could be a factor to enhance the trade turnover, he said.

Within the event, Kazakh companies such as the “Eurasian foods” and “Sultan Marketing” for food production, “Saryarka Autoprom” and “Hyundau Comtrans Kazakhstan”’ for automotive, “Izoterm” for building insulation materials, “Bal Textile”, “Byomer” and “Jas-Kanat” for metallurgy, “Minova Kazakhstan” for mining, “TK Pharm” and “Fores” for window and door manufacturing presented their products and services.

In addition, the Kazakh companies’ representatives toured some Mongolian major enterprises and companies and got some information about the investment policy and environment in Mongolia. A B2B meeting was held as well.