Developing Kazakh-Mongolian Trade and Economic Relations: A Business Forum Was Held
Today, a Kazakh-Mongolian business forum was held at the Astana International Financial Center. Serik Zhumangarin, Deputy Prime Minister and Minister of National Economy of the Republic of Kazakhstan, and Jadamba Enkhbayar, First Deputy Prime Minister of Mongolia and Minister of Economy and Development, participated. The event brought together over 300 representatives of government agencies and business communities from both countries.
The business forum was organized by KAZAKH INVEST NC JSC to expand trade, economic, and investment cooperation between Kazakhstan and Mongolia. Total trade turnover between the two countries exceeds $58 million.
Deputy Prime Minister Serik Zhumangarin delivered a welcoming speech and noted that trade turnover between Kazakhstan and Mongolia increased by 7% last year, demonstrating the development of mutually beneficial trade relations. "The consistent implementation of agreements, expanding the product range, reducing trade barriers, developing transport links, and implementing new joint projects will undoubtedly elevate economic cooperation between Kazakhstan and Mongolia to a new level," he said.
In his speech, Mongolia's First Deputy Prime Minister, Jadamba Enkhbayar, emphasized the sustainable development of the strategic partnership and diplomatic relations between the countries and noted the key goals of expanding economic cooperation—achieving a trade turnover of $500 million.
Also speaking at the event were Baatarjav Lkhagvajav, President of the National Chamber of Commerce and Industry of Mongolia; Ardak Zebeshev, Deputy Akim of the Kyzylorda Region; Yesentaiuly Zangar, Governor of the Bayan-Ulgii Aimag; and Murat Karimsakov, Chairman of the Atameken Chamber of Commerce of Kazakhstan.
The business forum included a panel session with representatives from JSC NC KAZAKH INVEST, the National Chamber of Commerce and Industry of Mongolia, JSC Trade Policy Development Center QazTrade, the Department of International Trade and Economic Affairs of the Ministry of Foreign Affairs of Mongolia, the Federation of Mongolian Freight Forwarders, JSC NC Food Contract Corporation, Green Group, the Business Women's Council under the Presidium of the Atameken National Chamber of Entrepreneurs, the Mongolia-Kazakhstan Business Council, and the QazTextileIndustry SRO. Participants presented their companies' activities.
Asel Suankulova, Director of the Investment Promotion and Marketing Department of JSC NC KAZAKH INVEST, spoke about the advantages of Kazakhstan's investment climate, key areas of cooperation, and invited Mongolian companies to implement joint projects.
A ceremony was then held to exchange a signed package of 20 documents, including contracts for the supply of railway cars and grain, memoranda of cooperation and understanding in the areas of trade, industry, tourism and international partnership, modern technology and biotechnology, the wool processing industry, equipment supplies and logistics, art, and others.
Following the forum, B2B meetings were held, attended by business representatives from Kazakhstan and Mongolia.
