First Mongolia-Indonesia business forum heldEconomy
Ulaanbaatar /MONTSAME/ The first Mongolia-Indonesia business forum took place in Ulaanbaatar on December 7, involving representatives of 17 Mongolian entities and companies and over 10 Indonesian officials and diplomats.
At the business forum, representatives of Ministries of Finance and Foreign Affairs of Mongolia introduced Mongolia’s economic outlook and the Indonesian delegates, including the First Deputy Minister of Finance gave information on current condition and future prospects of their country’s economy.
In his opening remarks President of the Mongolian National Chamber of Commerce and Industry (MNCCI) B.Lkhagvajav emphasized learning from Indonesia’s experience in developing its mining sector and processing copper concentrate is important for Mongolia’s economy. Mr. B.Lhagvajav and Non-resident Ambassador of the Republic of Indonesia to Mongolia Djauhari Oratmangun exchanged views on developing trade and economic relations between the two countries.
Ambassador Djauhari Oratmangun supported the proposals made by the MNCCI President on deepening bilateral economic ties and pledged to put his full effort into the cooperation.
According to numbers, trade turnover of Mongolia-Indonesia reached USD 15.5 million in 2013, USD 20 million in 2014 and USD 23 million in 2015. Mongolia imports palm oil, medicine and soap from Indonesia while the main export goods to the country are mechanical tools, copper and alloys.