Ulaanbaatar
Mongolia-Kazakhstan business forum held
Economy
Ulaanbaatar /MONTSAME/ Delegation of over 60 Mongolian companies and some 160 business delegates of Kazakhstan attended Mongolia-Kazakhstan Business Forum in Nur-Sultan city.
Opening the forum, Prime Minister of Kazakhstan A.U.Mamin said “Kazaskhtan is a country that has broad opportunities to do business. Foreign direct investment showed drastic increase last year and international financial agencies are looking Kazakhstan’s economy optimistically. It is necessary for our two countries to develop transport sector to expand bilateral cooperation. I would like to emphasize that the Kazakhstan side has willingness to invest and take part in construction and infrastructure development works in Mongolia.”
Based on political strong relations between the two countries, the sides talked on deepening economic cooperation in wide range of sectors such as mining, animal husbandry, arable farming, urban planning and tourism, increasing trade and investment, noted Mongolian PM. He also mentioned that Kazakhstan’s SCAT airlines started conducting regular flight in route Nur-Sultan-Ulaanbaatar from June this year while Hunnu Air Company of Mongolia plans to operate direct flight in route Ulaanbaatar-Almaty. "Mongolians are already accustomed to using products of Kazakhstan such as agricultural equipment and devices, spare parts, panne fabric, apple and fruits. We have experience in raising Kazakh white-headed breed of cows and naturalizing some sorts of wheat and vegetables in Mongolia. I consider that the parties have possibilities to strengthen and develop this traditional trade and cooperation more in the future, PM U.Khurelsukh underlined.
Total trade turnover between Mongolia and Kazakhstan, which established diplomatic relations in 1992, is at around USD 35.7 million. Food products, horsemeat, carpet and rug dominate in export of Mongolia while pastry, rice and cigarette lead in import, according to B.Munkhjin, Foreign Policy Advisor to Prime Minister. "Therefore, Mongolia is aiming to strengthen its policy targeted to Central Asia, especially Kazakhstan, elevating bilateral cooperation to a new level and creating joint businesses. Developing joint businesses will create condition to develop bilateral cooperation in long term."
