Ulaanbaatar
Presidents of Mongolia and the Czech Republic Attend the Mongolian-Czech Business Forum
Politics
Prague, March 12, 2025 /MONTSAME/. At the invitation of President of the Czech Republic Petr Pavel, President of Mongolia Khurelsukh Ukhnaa is paying a State Visit to the Czech Republic on March 9-12, 2025.
President of Mongolia Khurelsukh Ukhnaa and President of the Czech Republic Petr Pavel attended the Mongolian-Czech Business Forum, which commenced on March 11, 2025.
The two Heads of State expressed confidence that the enterprises of the two countries would expand cooperation beyond traditional sectors, exploring opportunities in a wide range of sectors including advanced technology, innovation, know-how, and transport logistics, establishing agreements and mutually beneficial cooperation.
Over 200 representatives from more than 150 enterprises across approximately 20 sectors, including food, agriculture, light industry, trade and services, mining, minerals, construction, education, and healthcare participated in the Mongolian-Czech Business Forum.
During the Business Forum’s opening, President of Mongolian National Chamber of Commerce and Industry Tur-Od Lkhagvajav and President of the Czech Chamber of Commerce Zdeněk Zajíček signed the “Operational Plan for Cooperation between the Mongolian Chamber of Commerce and Industry and the Czech Chamber of Commerce.”
As of 2024, trade turnover between the two countries stands at USD 18 million, with Mongolian exports totaling over USD 300,000 and imports at approximately USD 17 million.
Mongolia exports cashmere products, clothing, knitwear, and prefabricated gers to the Czech Republic while importing blasting wires, detonators, starter chemicals, heating furnaces, pharmaceuticals, and medical products.
A total of 80 Czech-owned and joint companies made direct investments of USD 9.2 million between 1990 and 2017. More than 60 of them are currently operating in the fields of trade, geology, mining exploration and extraction, food production, engineering construction, facilities, and construction materials production, according to a study.
The Czech Republic implemented projects worth over USD 50 million in 1996-2017.
