Ulaanbaatar, April 26, 2023 /MONTSAME/. In the framework of the State visit of President of the Republic of Poland Andrzej Duda to Mongolia, a Mongolian-Polish Business Forum was held on April 25 at Shangri-La Hotel in Ulaanbaatar.

President of the Republic of Poland Andrzej Duda and President of Mongolia Ukhnaagiin Khurelsukh delivered opening speeches to the Business Forum.

In their speeches, the Presidents of the two countries emphasized that the relations between the Parliaments, Governments, public organizations, citizens, and entrepreneurs have intensified, and the trade turnover of the two countries has reached USD 100 million doubling in the last three years.

Economic Adviser to the President of Mongolia B. Davaadalai stated that this Forum and the State visit would bring considerable results in significantly increasing the economic and trade cooperation between the two countries. He said, "Twenty Polish companies engaged in milk and dairy products, meat and meat products, health, medical equipment, information technology, electricity, energy, construction, and tourism are taking part in this Forum, whilst about 300 companies and entrepreneurs from Mongolia participate in the event. Most of them are food and agriculture companies. In other words, this sector is considered one of the most promising to cooperate in the future.”

Mining is another potential sector for cooperation with this country. The third cooperation sector could be banking and finance. In particular, the banking and financial sector of Poland has noticeably intensified since 2000. As the banking and financial sector goes digital around the world, there is a broad opportunity for cooperation between the Central and commercial banks. In addition, there is a possibility of attracting financial resources. Another potential area of cooperation is tourism. Three memorandums will be signed at this forum. The most notable MoU is the Memorandum of Understanding on Transit Facilitation. For a landlocked country such as Mongolia, transiting through the territory of Poland will give a huge advantage in terms of shipping to Europe and increasing trade."

Executive Director of "Efes International" LLC O. Dulguun underlines that the cooperation documents related to transportation are about to come into force. The company has been importing goods from Poland since 2018. As regards the company’s choice of this country to do business with, O. Dulguun explains that Polish goods are of high quality and the transportation cost is cheaper compared to other European countries.

At the same time, imported foodstuff, in particular newly grown and semi-processed fruits are products of high demand in Mongolia with four seasons in a year. The reason for the recent increase in prices of imported goods is the cost of transportation. Therefore, decisions aimed at improving transportation conditions will become tangible support.

Representatives of relevant organizations of both parties made presentations and provided information on the business environment of Mongolia and Poland, trade opportunities, transport logistics, agricultural export and import, opportunities for joint ventures and investments, and banking. The Mongolian National Chamber of Commerce and Industry, the Polish Investment and Trade Agency, and the Polish Chamber of Commerce signed a Memorandum of Cooperation. B2B meetings of Mongolian and Polish companies were held toward establishing business links and cooperation.

As of last year, Mongolia exported to Poland packaged medicine, sewn and knitted clothes, and goods worth USD 599,000, while Poland exported to Mongolia apples, pears, canned vegetables, fruits, nuts, chocolate, and cocoa containing food, pork, pork and poultry fat, beverages, pharmaceuticals, sanitary, face and nail care preparations worth USD 97,7 million.

The Business Forum was co-organized by the Mongolian National Chamber of Commerce and Industry, the Investment and Trade Agency of Poland, the Ministry of Foreign Affairs of Mongolia, and the Embassy of Poland in Mongolia.