Companies for cosmetics cluster meet

2019-04-11 15:07:56

Ulaanbaatar /MONTSAME/ Co-implemented by the Mongolian National Chamber of Commerce and Industry (MNCCI) and the Ministry of Foreign Affairs, the EU-funded Trade Related Assistance for Mongolia (TRAM) project organized the fifth meeting of a working group for establishing cluster of cosmetics companies.

The meeting brought together parties of the project and managers cosmetics product companies. With the purpose to support non-mining product export of Mongolia, the TRAM project will continue until 2021, and it will help Mongolian products enter the European market.

According to feasibilities of the project, cosmetics organic products could be potential for Mongolian export because the country has abundant reserve of raw materials and the product is able to be recognized in the global market with its unique package design of Mongolian tradition. In Mongolia, a number of companies operate with business of cosmetic products made of natural materials such as stinging nettle, sheep tail fat, sea buckthorn, mare milk and camel marrowbone.

Solely running business to export products is usually challenging and it could face many difficulties such as enhancement of production capacity, marketing and improvement of package design accorded with international standards. Therefore, the project aims to develop the cosmetics industry through a cluster under mutually-beneficial principles.

Attendees at the meeting discussed matters on a possibility of using garbage from leather and meat factories for making cosmetic goods, current activities of the working group and cluster, production of value-added goods and credit program of the EBRD.

A discussion on standards, monitoring and the Mongolian legal environment was organized as well. Following it, new members for the cluster team signed a Memorandum of Understanding.

Source: MNCCI