1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Mongolia's foreign trade turnover up 26 pct in first seven months www.xinhuanet.com

ULAN BATOR, Aug. 9 (Xinhua) -- Mongolia's foreign trade turnover in the first seven months of this year amounted to 7.38 billion U.S. dollars, up 26 percent from the same period last year, customs data showed Thursday.

Exports rose 16.9 percent year on year in the January-July period, while imports grew 39.8 percent, resulting in a trade surplus of 851 million U.S. dollars, according to the Mongolian Customs General Administration (MCGA).

The mining industry accounted for about 85 percent of total exports, the MCGA said in a statement.

China remains Mongolia's major export destination. Among the 60 countries to which Mongolia exported its goods and services in the first seven months this year, China was the recipient of over 86 percent of the total.

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Diversification policy outcome: Meat export rises 150 percent www.zgm.mn

Aside from the mining growth created by the surge in global commodity market this year, another sector is on the boom in Mongolia. Meat and meat products export revenue totalled USD 24 million in the first half of 2018, almost 150 percent higher compared to the same period of last year. Although the amount is fairly small compared to the mining sector, meat revenue is now catching up to cashmere. In order to ease Mongolia’s economic vulnerability that is highly dependent on mining sector, the Government has been making efforts to diversify the economy. In doing so, various national programs supporting import substitution products were introduced in recent years, such as Industrialization 21:100, Cashmere and Livestock Health. Last year, meat export was diminished due to livestock foot and mouth (FMD) disease outbreaks; however, the meat export still doubled the previous year’s amount thanks to rise in horse meat export. By tackling FMD outbreaks, the meat export flourished by the surge in beef, mutton and goat meat exports, and new markets have been opened for Mongolian meat and meat products this year. This includes new routes to Iran, Hong Kong and Vietnam.

One of the highlight of this year was goat meat export, which rose by eight times in the first half compared to last year’s mean time. Horse meat accounted for about 80 percent of total revenue, while demand for mutton, goat meat and beef are increasing. Specifically, horse meat export doubled, while mutton tripled. In addition to meat, live export jumped 11 times year-over-year. Experts estimate meat and live export revenue, which totalled USD 32.6 million in the first half, to reach about USD 81.3 million by the end of the current year. Presently, Max Market, Darkhan Meat Foods, Makh Impex and Sayan Uul are supplying meat and meat products in Mongolia according to the Mongolian Meat Association. The trending products consisted of precooked meat and sausages. National Council on Food Security conducted a study on meat export capacity. The study shows that Mongolia can export 27.9 tons of beef and 43.6 tons of horse meat this year. As for mutton and goat meat, the council set no restrictions, allowing limitless export. There are around 30 business entities with meat export permits, informed Ministry of Food, Agriculture and Light Industry. The ministry noted they are working to increase the number of permits and penetrate new markets. Furthermore, FMD outbreaks in seven soums of Arkhangai and three soum of Uvrukhangai aimags have been successfully tackled last month.

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Government loses arbitration against Standard Bank again www.zgm.mn

Earlier in July, Member of the Parliament Baasankhuu Oktyabri announced that the Government of Mongolia lost arbitration battle against Standard Bank of South Africa, which is now owned by China. Sanjmyatav Yadamsuren, Head of the Parliamentary working group responsible for inspecting the 51 percent ownership issues of Erdenet Mining Corporation (EMC), confirmed yesterday that the Mongolian Government has lost twice at the London Court of International Arbitration. EMC, the biggest contributor to budget revenue, was sanctioned in the international market in February 2018 in connection to a dispute over Mongolian Government’s 51 percent ownership of EMC. A decade ago, Batkhuu Sharavlamdan, CEO of Just LLC, loaned USD 140 million from Standard Bank of South Africa, which now belongs to China, collateralizing Mongolian Government’s 51 percent ownership of EMC.

Mongolia now has to cover the plaintiff's expenses of the last litigation
MP Sanjmyatav informed, “The working group concluded that it is unnecessary to send a Parliamentary delegation to the arbitration court. As a state monitoring, a representative of the Independent Authority Against Corruption was sent. The arbitration ruled against Mongolia.” The arbitration previously obliged the EMC to pay USD 51 million, lowering Standard Bank’s USD 109 million invoice. However, the interest and costs incurred by the plaintiff added up to USD 172 million as of March 1, 2018. Since then, the interest piled up by around USD 900 per day. Also, Mongolia now has to cover the plaintiff's expenses of the last litigation.

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Cabinet approves coordinates of areas eligible for exploration licenses www.montsame.mn

Ulaanbaatar/MONTSAME/ At its regular meeting on August 8, the Cabinet approved coordinates of areas eligible for exploration licenses. It aims at ensuring sustainable mining activities, stimulating economic growth, increasing mineral resource reserves and attracting external and internal investment.

Approval of the coordinates enacts announcing tenders for about 170 fields this year. In other words, a tender for 25-30 fields (one field’s average size is 5000 hectares) will be conducted twice a month. It is estimated to accumulate roughly MNT25 billion to the state budget.

Some 8.48 million hectares of area to be issued by tender covers 5.56 percent of the country’s total territory and are not overlapped with areas of valid licensed, special needs, specially protected and state reserve.

M.Unurzul

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Agricultural sector receives 196 machineries from Russia www.montsame.mn

Ulaanbaatar /MONTSAME/ The first batch of agricultural machinery and equipment supplied from the Russian Federation was handed over to the Crop Farming Support Fund of the Ministry of Food and Agriculture on August 06. Supplied under the soft loan agreement between the Development Bank of Mongolia and the Vnesheconombank of Russia, the first batch equipment consists of 196 pieces of agricultural machinery with 21 types including hay balers, combine harvesters, tractors, forage harvesters and sickles.

The equipment will be leased to farming companies and farmers for 60 months with down payment and annual interest rate of 4.62 percent through the Crop Farming Support Fund.

In his opening remarks, Minister of Food, Agriculture and Light Industry B.Batzorig said, “2019 will mark the 60th anniversary of bringing virgin lands under cultivation and developing independent agriculture in Mongolia. On the threshold of the anniversary, the Government of Mongolia made a resolution to set crop farming zones covering 113 bags of 60 soums of seven aimags. A new sexagenary cycle of farming sector is starting, thus, the Ministry of Food, Agriculture and Light Industry is running ‘Virgin Land-60’ campaign. Specific works are planned to be carried out such as setting up forest zones, fencing farming lands and making reforms and renewal of seeds, varieties, techniques and technologies. ”

“We have been working closely with the Russian Federation since launching virgin-land cultivation. 8000 tons of elite seeds bought from Russia were provided to farmers, which will be harvested this autumn. The equipment of USD 10 thousand are significant to technological reform and successful harvesting," added the Minister.

Spring cultivation of this year started on May 3. As of June 27, 494.3 thousand hectares of land is cultivated.

“This is a golden opportunity for the farmers. Therefore, we ought to seize this opportunity in order to provide people with organic food” noted Honored Agronomist and Hero of Labor of Mongolia, Sh.Mardaan.

M.Anudari

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Chinese experts to arrive in Mongolia for bear protection www.china.org.cn

A Chinese team is due to arrive here next week for a project to help save Mongolia's endangered bears, a ministry official told Xinhua Wednesday.

The team consists of seven experts from the Chinese Academy of Forestry who are to conduct a field survey starting in mid-August at a nature reserve in southwest Mongolia and home to Gobi bears, or Mazaalai.

In April, Mongolia and China signed an agreement on a three-year technical assistance project with aid from the Chinese government worth 110 million RMB (16.1 million U.S. dollars).

Mazaalai mainly eat berries, roots, other plants, insects and sometimes rodents.

The Gobi bear with a current population of merely 28 is the world's rarest due to insufficient food and distinct biological features. Their habitats and water resources have been shrinking dramatically compared to the 1950s and 60s because of climate change, according to the Mongolian government.

The government and NGOs have taken multiple measures to protect Mazaalai, one of the world's most endangered species. In 2014, the government adopted a national program called Mazaalai to save the Gobi bears.

Under the program, the government places 20 tons of dietary supplements for the bears in 27 feeding stations in the Gobi Desert every year.

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IMF hails Mongolia's economic growth www.xinhuanet.com

ULAN BATOR, Aug. 8 (Xinhua) -- Mongolia's economic growth is reviving though significant vulnerabilities still remain, the International Monetary Fund (IMF) said, on completing the fifth review of Mongolia's economic performance on Tuesday.

"Good progress has been made especially regarding structural reforms and policies to rehabilitate and strengthen the financial sector. Notwithstanding this progress, Mongolia remains vulnerable to external and internal factors," IMF staff team leader Geoff Gottlieb said in a statement.

"Discussions on the Mongolian economy, especially macroeconomic policies, will continue in the near future," he said.

The three-year IMF program, approved in 2017, aims to stabilize the economy and establish a basis for more sustainable and inclusive growth.

According to Gottlieb, Mongolia's macroeconomic performance has been solid with key targets met.

In particular, foreign currency reserves have more than doubled since the start of the program.

The GDP grew 5.1 percent year on year in 2017, compared to 1 percent the previous year. The IMF had forecast a 3.3-percent growth rate.

The IMF prediction for Mongolia's GDP growth this year is 5 percent and 6.3 percent next year.

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Mongolia to establish trade missions abroad to boost exports www.xinhuanet.com

ULAN BATOR, Aug.8 (Xinhua) -- Mongolia will establish trade missions abroad between 2018 and 2023 in order to boost exports, according to its Foreign Minister on Wednesday.

"Mongolia's economy is on track to stabilize. Now, it is extremely important to boost exports to increase foreign exchange reserves, raise salaries and create more jobs." Damdin Tsogtbaatar told a press conference, stressing the need to establish overseas trade missions.

According to the official, from 2018 to 2019, the country will establish three trade missions in the Chinese capital Beijing, the city of Vladivostok in the Russian far east, as well as the Japanese capital Tokyo.

Similar offices will be opened in the northern Chinese city of Tianjin, the Russian capital Moscow, and the Belgian capital Brussels between 2020 and 2023.

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Mongolia Unemployment Rate 1990-2018 www.tradingeconomics.com

Unemployment Rate in Mongolia increased to 9.70 percent in the first quarter of 2018 from 7.30 percent in the fourth quarter of 2017. Unemployment Rate in Mongolia averaged 6.81 percent from 1990 until 2018, reaching an all time high of 11.60 percent in the first quarter of 2016 and a record low of 2.80 percent in the fourth quarter of 2007.

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Statement by the IMF Mission on the Fifth Review of Mongolia's Extended Fund Facility www.imf.org

An International Monetary Fund (IMF) staff team led by Mr. Geoff Gottlieb visited Ulaanbaatar from July 25 to August 6, 2018 to conduct discussions on the fifth review of the three-year Extended Fund Facility (EFF) arrangement approved on May 24, 2017, in an amount equivalent to SDR314.5054 million, or about US$434.3 million [1] (see Press Release No. 17/193).

The discussions focused on the implementation of the Fund supported program, the medium-term outlook, and policies and structural reforms needed for debt sustainability, the rehabilitation of the financial system, and high-quality growth while protecting the poor.

At the conclusion of the visit, Mr. Gottlieb made the following statement:

“The mission held productive discussions with the authorities on the policies needed to complete the fifth review under the EFF arrangement. Recent macroeconomic performance has been strong with key targets met and growth is reviving although significant vulnerabilities remain.

“Good progress has been made especially regarding structural reforms and policies to rehabilitate and strengthen the financial sector. Discussions including on the macroeconomic policy mix will continue in the near future.

“The team thanks the authorities for their cooperation, constructive dialogue, and hospitality during its stay in Mongolia.”

[1] The dollar amount is calculated based on the SDR-dollar rate of May 24, 2017, equivalent to $425mn at SDR-dollar rate of 1.35274 as of February 27, 2017

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