ASTANA (TCA) — Kazakhstan and Mongolia have signed a memorandum aimed at developing bilateral trade.
The Atameken national chamber of entrepreneurs of Kazakhstan last week held a meeting with representatives from the Mongolian national chamber of commerce and industry.
“Kazakhstan and Mongolia have no direct access to the sea, that’s why we need to discuss in what industries we need to establish effective cooperation,” Deputy Chairman of the board of Atameken Eldar Zhumagaziev said.
In his words, Kazakhstan’s partnership with Mongolia will be effective in the areas of agricultural and organic production.
“Our main goal is to establish cooperation. I am sure that we can implement particular projects, beneficial to both countries, and to contribute a lot to the economy of our countries,” said the President of the Mongolian national chamber of commerce and industry Magvan Ounchimeg.
The Mongolian delegation said that for Mongolia it is very important to have partners who are ready to support in any area. The importance of such support was mentioned in the report to the international associations asking for assistance in stabilization of the Mongolian economy. The establishment of trade relations on the basis of the memorandum of mutual trade is very important for both countries from an economic perspective.
In 2016 the trade turnover between Kazakhstan and Mongolia was US $77.9 million including $77.05 million of exports from Kazakhstan. According to official statistics, in 2016 the Kazakh export to Mongolia increased by 44 percent.