Ulaanbaatar
Mongolian and Lao Businesses Focus on Cooperation in Transportation, Logistics, Farming, and Renewable Energy Fields
Economy
Ulaanbaatar, June 12, 2024 /MONTSAME/. The Mongolian-Lao Business Roundtable was held at the Mongolian National Chamber of Commerce and Industry on June 11, 2024.
The business meeting was organized by the Ministry of Foreign Affairs of Mongolia and the Mongolian National Chamber of Commerce and Industry and attended by the Lao business delegation headed by the Minister of Industry and Commerce of Laos Malaythong Kommasith, who arrived in Mongolia as part of the State Visit by President of Lao People’s Democratic Republic Thongloun Sisoulith.
The Lao side is comprised of officials of the Lao National Chamber of Commerce and Industry and over 30 representatives from 9 companies in the energy, oil, transport, logistics, digitalization, trade, and food manufacturing sectors.
Minister of Industry and Commerce of Laos Malaythong Kommasith expressed delight in visiting Mongolia and noted that Laos is ready to intensify cooperation with Mongolia. Mr. Malaythong Kommasith introduced Laos’ economic and social situation within the regional framework of Southeast Asia and informed that the renewable energy sector, including wind, solar, and hydropowers is rapidly developing in Laos. Notably, representatives from one of the biggest renewable energy companies in Laos, Électricité du Laos, arrived in Mongolia.
Although Mongolia and Laos have ancient historical ties and traditional friendly cooperation for many years, since the transition to free market economies in 1990, the economic cooperation and trade turnover between the two countries have declined. The two sides expressed the importance of recovering economic cooperation and increasing trade between Mongolia and Laos.
The Mongolian side was comprised of the State Secretary of the Ministry of Foreign Affairs of Mongolia Ankhbayar Nyambaatar, President of the Mongolian National Chamber of Commerce and Industry Enkhtuvshin Dashtseren, researchers from the Institute for International Studies of the Mongolian Academy of Sciences, and enterprises such as “Bright Logistics”, “Air Focus Mongolia”, “Orica Mongolia”, “Sankou Marketing”, “Taliin Khishig Trans”, “Central Asian Road”, “Grand Od Arvin”, “Orgil Conditer”, “Ikh Goviin Ilch”, “Nomin Trade” that operate in international shipping brokerage, transport and logistics, renewable energy, mining, food, and wholesale sectors.
At the meeting, the two sides highlighted cooperation opportunities in transportation, logistics, livestock farming, tourism, medicine, energy, and particularly renewable energy fields.
