Ulaanbaatar, June 29, 2023 /MONTSAME/. SheTrades Hub Mongolia, a center of the SheTrades initiative at the International Trade Centre (ITC) was opened yesterday during the "World Export Development Forum - 2023" held in Ulaanbaatar, Mongolia on June 26-29 under the auspices of the President of Mongolia Khurelsukh Ukhnaa.

“Mongolia supports the ITC’s initiative in 2015 to establish SheTrades Hub centres on empowering women engaging in international trade and creating a women-inclusive fairer business ecosystem. SheTrades Hub Mongolia centre is awaited to provide Mongolian businesswomen opportunities to obtain new knowledge and skills and introduce it domestically, emphasized Minister of Labour and Social Protection Bulgantuya Khurelbaatar, in her opening remarks at the launching ceremony.

SheTrades Hub Mongolia is the 14th center of the ITC initiative and it will help women businesses to enter new markets by connecting them to the international network. Moreover, connecting domestic businesses is significant for empowering women and getting financing in the technology sector, notes ITC Executive Director Pamela Coke-Hamilton. SheTrades Hub Mongolia is being established under the Mongolian National Chamber of Commerce and Industry.

Currently, Mongolia has approximately 1.2 million officially employed individuals, with women accounting for 46.5 percent of the workforce. More than 65 percent of working women receive salaries, 13 percent are self-employed, and 21 percent work as herdswomen. “While women contribute to all social and economic sectors of our country, they are prominently involved in the small, medium, and micro-business sectors. For instance, nearly 70 percent of entrepreneurs in the SME sector are women, with approximately 80 percent operating in trade, services, and recycling. Between 2009 and 2020, around 50,000 new jobs have been created by women. Mongolia places significant emphasis on increasing women's participation in social and economic development, ensuring gender equality, and supporting women entrepreneurs. Accordingly, the Mongolian Parliament is in the process of developing a draft law on "Increasing Women Entrepreneurs' Participation in the Economy" in alignment with international standards,” said the President of Mongolia Khurelsukh Ukhnaa at the opening ceremony of the "World Export Development Forum - 2023".

The SheTrades initiative has changed the economic lives of three million women in 30 countries by connecting them to markets. It has opened regional hubs across Africa, Asia, South America, the Caribbean, and Europe.

SheTrades Global event brings together women entrepreneurs from all these regions. For women whose businesses are ready to export, they have a unique chance to connect and meet potential buyers, investors, and partners.

Previous editions of SheTrades Global — held in Ethiopia, the United Kingdom, Türkiye, Brazil, Rwanda, Mexico, and China — included representatives from over 85 countries and generated over $80 million of new business for women entrepreneurs, ITC informs.