Prime Ministers of Kazakhstan and Mongolia discussed issues of further cooperation between the two countries

Prime Ministers of Kazakhstan and Mongolia discussed issues of further cooperation between the two countries

During the official visit of the Prime Minister of the Mongolian People's Republic Ukhnaagiin Khurelsukh to Kazakhstan, the Kazakhstan-Mongolian Business Forum was organised under the chairmanship of the Prime Minister of the Republic of Kazakhstan Askar Mamin.

More than 200 participants participated at the forum, including the representatives of local and foreign business, government agencies, national companies and media.

“As a result of the policy of the First President of Kazakhstan N. Nazarbayev, the foundation has been laid for the progressive development of Kazakh-Mongolian relations. The President K.Tokayev, adhering to continuity in foreign policy, pays great attention to the effective development of cooperation with Mongolia” – said A.Mamin.

The Head of the Government noted that Kazakhstan and Mongolia have great potential for increasing investment cooperation, especially in the mining, transportation, construction and agricultural sectors.

A.Mamin spoke about the investment climate ofKazakhstan, urging businessmen of the two countries to actively establish business contacts, set up joint ventures and implement mutually beneficial projects.

In turn, U. Khurelsukh emphasized that over the years of independence and the transition to a market economy, Kazakhstan succeeded, ensuring stable economic development and favourable investment climate.

“We have enormous opportunities for expanding trade, economic and investment cooperation. I am sure that this business forum will give an impetus to the development of economy and business relations between the two countries” - said the Prime Minister of Mongolia.

In addition, during the forum, presentations were made by the Minister of National Economy of Kazakhstan Ruslan Dalenov, the Deputy CEO of the International Chamber ofCommerce of Kazakhstan Nuraly Bukeikhanov, as well as the representatives of KAZAKH INVEST, KazAgro and KazakhExport.

At the same time, the Minister of Mining and Heavy Industry of Mongolia Dolgorsürengiin Sumyaabazar and the Minister of Food, Agriculture and Light Industry Chultemiin Ulaan, as well as the head of the National Chamber of Commerce and Industry of Mongolia spoke about the possibility of further bilateral cooperation between the two countries.

In general, as a result of the forum, the participants signed 8 agreements on cooperation in the fields of agriculture, export promotion, transportation, machine building, mining, metallurgy and pharmaceuticals.

Thus, the parties signed the agreements on construction of a gold and silver refining plant, a ferrosilicon-aluminum plant (innovative alloy), the cooperation between the National Chamber of Commerce and Industry of Mongolia and the Chamber of Commerce of Kazakhstan, as well as the agreements on aviation maintenance, training of flight crews, ground handling specialists, joint investments inveterinary drugs production, setting up the training centers for veterinarians and export development of veterinary immunobiological preparations and medicines.

The organisers of the Kazakh-Mongolian forum were the Ministry of Foreign Affairs of the Republic of Kazakhstan and KAZAKH INVEST.

It is worth noting that for the period from 2005 to second quarter of 2019, Mongolia invested                $ 8.8 million in Kazakhstan, while Kazakhstan invested $ 26.2 million in Mongolia. Trade turnover between the countries in January - July 2019 amounted to   $ 40.8 million.

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