Business news
Mongolia-Belarus business forum nets $20m in contracts
MINSK, 3 June (BelTA) - 13 commercial documents to the total amount of $20 million have been concluded at a joint business forum held as part of Belarusian President Aleksandr Lukashenko’s state visit to Mongolia, BelTA learned from Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI) Mikhail Myatlikov.
“A large Belarusian delegation is in presence [at the business forum]. These are about 65 people representing 40 enterprises of our country. Negotiations have been going on for two days. A number of documents have been signed at the forum today. 13 commercial documents worth $20 million were signed on the sidelines of the visit. A large number of business representatives from Mongolia are present at the forum. About 200 people have come for the plenary part, with B2B negotiations underway,” the BelCCI head said.
Belarus-Mongolia trade amounted to about $30 million in 2023.
Belarusian Industry Minister Aleksandr Rogozhnik and Minister of Food, Agriculture and Light Industry of Mongolia Khayangaa Bolorchuluun (co-chairpersons of the intergovernmental commission) signed an action plan to implement the economic part of the cooperation roadmap for 2024-2026.
An exhibition-tasting of Belarusian products was organized at the forum. Some domestic enterprises presented their products in the hope of finding partners, others are already thinking about expanding the existing cooperation.
For example, 50% of Mongolia's milk powder imports are currently provided by Belarus. Meat products, cheese, sweets, and other goods are also in demand.
Khayangaa Bolorchuluun got familiar with a variety of Belarusian products presented at the business forum. He knew some brands and products from his childhood. It is no surprise as the Soviet Union cooperated very closely with Mongolia. Now there is a real opportunity to convert nostalgic memories into successful cooperation for years to come.
According to Mikhail Myatlikov, negotiations on a free trade regime between the EAEU and Mongolia are currently underway. This will make it possible to significantly increase the volume of mutual trade in the future.
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