Ulaanbaatar
President attends Mongolia-France business forum
PoliticsUlaanbaatar /MONTSAME/ Mongolia-France Business Forum took place on the sidelines of the official visit of Mongolian President to the Republic of France.
The "Movement of the Enterprises of France" (MEDEF), the largest employer federation in France, organized the conference, which attracted some 50 businessmen from 36 Mongolian companies and delegates from 50 French small and medium enterprises, as well as world giants.
Trade turnover between Mongolia and France totaled to USD 62.9 million as of 2014. Today, 57 French companies are represented in Mongolia, the investments made to Mongolia from France since 1990 is valued USD 43.4 million.
Businessmen and economic representatives’ introducing of their businesses in Mongolia from France, the world’s sixth largest economy, an influential member of the European Union and a permanent member of the UN Security Council, and their cooperation "are of great significance for our country", said the President in his opening remarks.
Investments from France have an impact on exercising our country’s national security policies and balancing its foreign economic relations, he added.
The President also highlighted Mongolia’s efforts to become a stronghold for businesses and transit transports, as it is located between the two giant markets.
“Mining businesses take up a great proportion in Mongolia’s economy. However, the processing and manufacturing industries have been intensively developing recently. Quality shift has been occurring in Mongolia’s economic spheres. Therefore, I am delighted to meet with French businessmen on such a turning point”, he continued.
The President applauded Mongolian-French business cooperation in agriculture, civil construction, infrastructure, and energy production. “Mongolia and France have more capacity to cooperate in energy sector, not only in producing energy out of coal, but also in renewable energy. The Presidents and the governments will promote your actions”, he noted.
