1 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      2 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      3 AIRBNB IS USING WHAT3WORDS TO LIST STAYS WITH MONGOLIAN NOMADS WWW.TECHCRUNCH.COM PUBLISHED:2018/11/20      4 LOCAL PRECIOUS METAL ASSAY LABORATORY PURIFIES 99 KG OF GOLD WWW.MONTSAME.MN PUBLISHED:2018/11/20      5 LEGISLATOR OF MONGOLIA'S RULING PARTY SUBMITS PROPOSAL ON DISMISSING GOVERNMENT WWW.XINHUANET.COM PUBLISHED:2018/11/20      6 SHOCK DECISION: CHINA CLOSES BORDER TO COAL IMPORTS FROM MONGOLIA WWW.NEWS.MN PUBLISHED:2018/11/20      7 STRATEGY INTRODUCED TO FOSTER PRIVATE SECTOR IN WESTERN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      8 MONGOLIA TO STRENGTHEN ECONOMIC TIES WITH RUSSIA WWW.XINHUANET.COM PUBLISHED:2018/11/19      9 VOLKSWAGEN TO SPEND $50 BILLION ON ELECTRIC CAR 'OFFENSIVE' WWW.CNN.COM PUBLISHED:2018/11/19      10 HABITABILITY OF MONGOLIA UNDER THREAT FROM CLIMATE CHANGE WWW.ADELAIDENOW.COM.AU PUBLISHED:2018/11/19      ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     ХАЙНАНЬД ЗУГААЛАХ ГЭСЭН МОНГОЛЧУУД УЛААН-ҮҮДЭЭС НИСЭХ ТАСАЛБАРЫГ ХУУ ХАМЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/20     ГАШУУНСУХАЙТ БООМТ: ЖОЛООЧ НАРЫН МЭДЭЭЛЛИЙГ УРЬДЧИЛАН ЯВУУЛАХ БАЙДЛААР АСУУДЛЫГ ШИЙДВЭРЛЭХЭЭР БНХАУ-ТАЙ ТОХИРОЛЦЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     ЗАМЫН НӨХӨӨС, 100 ГАРУЙ ТӨРЛИЙН РЕЗИНЭН БҮТЭЭГДЭХҮҮН ДОТООДОД ҮЙЛДВЭРЛЭЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20     АЛТНЫ ОЛБОРЛОЛТ ЭДИЙН ЗАСГИЙГ ДЭМЖИЖ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛЫН АНХНЫ ХУВИЙН ХӨРӨНГИЙН БИРЖИЙН ХОЁР ДАХЬ БҮТЭЭГДЭХҮҮН: “ПАРК ТАУН” БОНД WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/20     МОНГОЛ, ОХУ-ЫН ТЭЭВРИЙН САЛБАРЫН ХАМТЫН АЖИЛЛАГААГ ӨРГӨЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/20     БНХАУ-ЫН ОЛОН УЛСЫН ИМПОРТЫН ҮЗЭСГЭЛЭН БНХАУ-ОХУ-ЫН БИЗНЕСИЙН ХАРИЛЦААГ ӨРГӨЖҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/19     АМЧАМ МОНГОЛ 2018 ОНЫ ЖИЛИЙН ТАЙЛАНГИЙН ХУРЛАА АМЖИЛТТАЙ ЗОХИОН БАЙГУУЛЛАА WWW.IKON.MN НИЙТЭЛСЭН:2018/11/19    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

64x64

One Metal Will Be Transformed by the Electric Car Boom www.bloomberg.com

Glencore Plc and Trafigura Group Pte are often at loggerheads, but one thing they agree on: the nickel market will be transformed by the rise of electric cars.

Nickel sulphate, a key ingredient in lithium-ion batteries, will see demand increase 50 percent to 3 million metric tons by 2030, Saad Rahim, chief economist at Trafigura, said in an interview. While other battery metals like cobalt and lithium have more than doubled since the start of last year, nickel prices have been subdued because of large inventories.

"When you look structurally, we should start to get bullish now,” Rahim said. “Are you going to be able to meet that demand when the time comes, given underinvestment in the supply side?”

His view echoes the outlook from Glencore, which told analysts recently that nickel production would need to increase 1.2 million tons by 2030, equal to more than half of current global output, to keep up with demand from the battery industry. Prices are currently more than double what it costs Glencore to mine the metal.

It’s a surprising mood change for a market with a disastrous reputation. Nickel was long a thorn for Glencore, which was saddled with unprofitable operations following its takeover of Xstrata. It sold an Australian nickel mine, which Xstrata bought in 2007 for $2.4 billion, for just $19 million in 2015.

“The nickel industry’s been a bit of a dog since about 2007,” Oliver Ramsbottom, a partner at McKinsey & Co. in Tokyo, said by phone.

The battery industry could revive the fortunes of miners more than a decade after nickel collapsed from a peak of $51,600 a ton in 2007, when Indonesia and the Philippines started to flood the market with low-grade supply. Nickel currently trades at $11,870, up 18 percent for the year.

Future batteries will likely use more nickel and less cobalt, Rahim said. Cobalt prices have surged and the biggest source of supply is the Democratic Republic of Congo.

Still, some analysts are skeptical that the bullish scenarios will play out. Electric cars are still a niche industry and nickel oversupply remains a threat, with current stockpiles four times bigger than since the start of 2012.

Indonesia has authorized its largest producer to export more nickel ore. The Philippines has also discussed ending a ban on open-pit mining, raising concerns that supply will spike.

“For years, the market has completely dismissed the idea that something positive could happen in nickel,” Ingrid Sternby, senior research analyst at Blenheim Capital Management LLP, said in an interview in London. “With the recent announcements about Indonesia and the Philippines, it’s easy to see why the market is still scary enough for people not to want to be involved.”

About half of global nickel production is in the form of ferronickel or nickel pig iron, which is nickel alloyed with iron, making it suitable for stainless steel. Battery makers, instead, use nickel sulphate, produced by dissolving pure nickel metal in sulphuric acid.

One hope is that the pricing of nickel pig iron and the high-grade nickel sulphate will diverge in the coming years, improving the fortunes of miners that can produce battery-quality material.

The global nickel market is heading for a deficit once above-ground stockpiles of battery-grade metal are consumed, according to Wood Mackenzie. The question for miners is how quickly the premium for top-quality nickel will emerge.

“You can see the tightness ahead in the nickel market, but my concern is that we’re going to see a lot of value destroyed along the way,” said Colin Hamilton, managing director for commodities research at BMO Capital Markets Ltd. “If the miners really believe in the EV growth story, the thing to do would be to keep the nickel in the ground until the deficit arrives.”

Still, politicians and automakers are increasingly counting on a future of electric cars, attracting traders such as Trafigura.

“Will we see a real breakout in next 12 months? That’s hard to see, but beyond that, structurally this looks to be going up,” Rahim said.

...


64x64

Canada oil, gas drilling to pick up in 2018: industry body www.reuters.com

CALGARY, Alberta (Reuters) - Canadian oil and gas drilling activity will climb 5 percent in 2018 as a gradual uptick in crude prices gives rise to cautious optimism among producers, an industry body forecast on Tuesday.

The Petroleum Services Association of Canada (PSAC) expects energy firms to drill 7,900 wells next year, up from 7,550 in 2017. The biggest increase in activity will be in Canada’s main crude oil and gas-producing province of Alberta.

Based on PSAC’s forecast, next year will be the busiest for drilling since 2014, when oil prices crashed because of global oversupply.

The 2018 estimate is still 30 percent below 2014 well totals, highlighting the slow speed of recovery. U.S. crude prices are hovering just under $55 a barrel CLc1, well below early 2014 prices of above $100.

“For 2018, confidence that oil will stay in the low-to-mid $50 range as markets tighten and inventories reduce, along with growing interest in Canada’s vast liquids rich natural gas, should support a 4 to 5 percent increase in activity levels,” PSAC president Mark Salkeld said in a statement.

He also called for more export pipelines to ship Canadian oil and gas to market, warning that TransCanada Corp’s (TRP.TO) recent decision to cancel its Energy East project was a blow to investor confidence.

...


64x64

Russia starts building Bushehr 2 nuclear power plant in Iran www.rt.com

Russia's state atomic energy corporation Rosatom announced on Tuesday construction of the Bushehr 2 nuclear power plant (NPP) in Iran has started. The project was agreed between Moscow and Tehran three years ago.
"I am sure this major Russia-Iran investment project will strengthen cooperation and ties between our countries,” said Rosatom’s Director General Aleksey Likhachev at the ground breaking ceremony.

The Bushehr 2 NPP will have two VVER-1000 power units built with Generation III+ technology, including the latest safety features. They will have a combined capacity of 2100 MW.

The project’s cost is estimated at $10 billion and will take up to ten years to complete. The deal, which was signed by Russia and Iran in November 2014, also included the option of building six more reactors in the future.

Likhachev and the head of Iran’s Atomic Energy Organization Ali Akbar Salehi visited the site of the Russian-built Bushehr 1 NPP which was connected to the national grid in 2011. It was started in 1975 but was halted four years later after the Islamic Revolution because German manufacturers withdrew. Russia’s nuclear construction company Atomstroyexport took over the project in the 1990s.

...


64x64

Crude price recovery lifts PetroChina www.chinadaily.com.cn

The mainland's largest oil and gas producer China National Petroleum Corp, or PetroChina, reported a 290 percent rise in third-quarter net profit as the company reaped the rewards of a strong rebound in crude prices and deleveraging.

With the other two mainland oil majors-CNOOC and Sinopec-also reporting higher third-quarter numbers, industry analysts expected the strong rebound to continue in the fourth quarter of the year also.

PetroChina's net profit rose 290 percent from a year ago to 4.69 billion yuan ($707 million) as the company cut debt and interest expenses.

Revenue for the period rose 17 percent from a year ago to 481.8 billion yuan, the Beijing-headquartered company said in a filing to the Hong Kong stock exchange.

With the winter heating season approaching in the northern parts of China, analysts believe PetroChina's earnings could continue rising in the fourth quarter with wholesale natural gas demand set to go up from mid-November.

Li Li, research director for the energy sector at ICIS China, a consultancy focused on the energy industry, said Chinese oil giants have benefited massively from the rebound in international oil prices during the first nine months of this year.

The profit rebound, based on last year's low base, which was also the company's worst first-half profit since its listing in 2000, will continue and the oil and gas industry will also gradually improve with better risk resistance capacity, she said.

"PetroChina's revenue and profitability are expected to continue improving in the fourth quarter, thanks to higher crude prices and generally better cost controls in the oil and gas sector," said Li.

Crude production fell to 660 million barrels in the January to September period this year, down 5 percent year-on-year.

China Petroleum & Chemical Corp, the world's biggest refiner, also known as Sinopec, also disclosed its third-quarter report late Monday, saying its profit advanced by 13 percent as earnings from refining operations offset upstream and impairment losses during the period, while its net income increased to 11.5 billion yuan.

Third-quarter revenue of CNOOC Ltd, the listed arm of China National Offshore Oil Co, also rose because of higher oil and natural gas prices, with revenue from oil and gas sales in the third quarter rising 16.9 percent to about 35.94 billion yuan, the company said.

PetroChina and Sinopec also vowed to complete important internal corporate reforms by November, as part of the plan to help clear the institutional barriers for further reform of State-owned enterprises and improve operational efficiency.

According to the State Council, all central SOEs, except financial and cultural ones, will be registered as limited liability companies or joint-equity corporations in accordance with the Company Law by the end of 2017. It is also an attempt to accelerate the establishment of an effective and balanced corporate governance structure, based on the legal person status, as well as a flexible and efficient marketized management mechanism.

...


64x64

Russia & China to extend currency swap agreement to lessen dollar dependence www.rt.com

Economic cooperation between Russia and China has been actively developing according to Russian Deputy Prime Minister Sergei Prikhodko. He says the sides are working to prolong the bilateral currency swap agreement.

"At present, financial regulators of the two countries are working on extending the bilateral currency swap agreement for the next three years,” he said as Russian Prime Minister Dmitry Medvedev heads off on an official visit to China.

Prikhodko added that settlements in national currencies are gradually increasing. “In 2016, the share of national currencies in payments for exports of Russian goods and services amounted to 13 percent, imports, 16 percent. In the first quarter of 2017, these figures rose to 16 percent and 18 percent, respectively," he said.

China has developed a system of cross-border payments in yuan, the China International Payments System (CIPS), to expand the use of its national currency in international payments, according to Prikhodko. He said some Russian banks have already joined CIPS.

The Russian National Card Payment System (NSPK) and China's UnionPay have agreed to process domestic Russian transactions using UnionPay cards in NSPK. This year the two countries plan a pilot project of UnionPay and Rosselkhozbank for issuing co-badging cards with Russia's Mir payment system.

In 2014, Russian and Chinese central banks signed a three-year ruble-yuan currency swap deal worth up to $25 billion, with the aim of boosting trade using national currencies and lessen dependence on the dollar and euro. Russia’s largest lender, Sberbank became the first bank in the country to start issuing credit guarantees denominated in Chinese yuan.

Trade between Moscow and Beijing grew 2.2 percent last year to $69.52 billion. The countries have set a goal to boost trade to $80 billion by 2018 and $200 billion by 2020.

...


64x64

GGGI supports Development of Pilot Energy Efficiency www.gggi.org

Since 2013, GGGI has been supporting the Government of Mongolia in the implementation of the National Green Development Policy and NDCs to the Paris Agreement. These include specific targets on improving the energy efficiency of heat and power generation, transmission and of the built environment which are reflected in Mongolia’s Energy Conservation Law. In March 2017, GGGI and the Energy Regulatory Commission of Mongolia (ERC) signed a Memorandum of Understanding which identifies four major areas of support to be brought by GGGI:

· Formulation of the National Energy Efficiency Action Programme 2018-2022 (NEEAP);
· Development of incentives for renewable energy, energy conservation, and energy efficiency;
· Preparation of bankable green energy projects, beginning with industrial energy efficiency; and
· Sharing and dissemination of institutional knowledge and experience.

On October 25 2017, GGGI and the ERC presented the final outcomes of the energy audits of a selected sample of 15 “Designated Entities”, Mongolian private and publicly owned organizations from various sectors, whom have in common a consumption of heat and, or electricity exceeding the threshold set by the government for conservation potential. PricewaterhouseCoopers (PwC), was missioned by GGGI and the ERC to carry out the following technical advisory services:

· Estimate the market per sector;
· Perform a gap analysis of Mongolia’s policy, regulatory, and financial framework;
· Develop a pipeline of pilot energy efficiency projects (15 projects in different sub-sectors); and
· Capacity development activities of local energy auditors.

The consolidated results of the assignment show that the recommended energy conservation measures will require a total of $58 million of capital investment with an expected project payback period up to 3 years. The energy efficiency improvements alone can help achieve an estimated reduction of 620 thousand tons of CO2 emissions.

Since Mongolia became a GGGI member country, GGGI provided technical assistance to the Government of Mongolia in the areas of energy systems analysis, public green building, green cities and national green development planning. Building upon this work, GGGI and the Government of Mongolia initiated the Transition to Green Development Project (Phase 1: 2015-2016, Phase 2: 2017-2018), supporting the implementation of the country’s green development priorities and contribution to climate action – particularly in the fields of renewable energy, energy efficiency, public building design, and climate finance.

Dr. Tleykhan, Director General of the ERC, highlighted that “The results of this project demonstrate that improved energy efficiency has huge potential of benefits not only in terms of economy, but also socially and environmentally. It will serve as a platform to delivering bankable projects in the energy sector – a next step we are looking forward to”. The development of a pipeline of bankable projects complements GGGI’s ongoing work on the establishment, capitalization, and operationalization of the Mongolian Green Credit Fund (MGCF) – a national financing vehicle dedicated to the channeling of climate/development finance to green projects. Key projects in the MGCF’s project pipeline, being developed by GGGI, include the implementation of energy efficiency improvements measures for these 15 “Designated Entities”.

...


64x64

Asia gains as South Korea hits record high, dollar sags on White House woes www.reuters.com

TOKYO (Reuters) - Asian stocks mostly rose on Tuesday, shaking off downbeat factory readings out of China, while the dollar sagged after investigators probing Russian interference in the 2016 U.S. election charged President Donald Trump’s former campaign manager.

Spreadbetters expected Britain's FTSE .FTSE to open a shade lower and France's CAC .FCHI to open flat. The German markets will be shut for a national holiday.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.4 percent.

Strong gains in South Korea and Taiwan, which make up roughly a quarter of the index’s weighting, helped offset weakness in China and Hong Kong.

The KOSPI .KS11 ended up 1 percent at a record high after Seoul and Beijing agreed to normalize relations that have been strained by a year-long standoff over the deployment of a U.S. anti-missile system in South Korea.

“Shares that have long been pressured by ongoing political disputes between the two countries are reacting positively to the announcement, including Hyundai Motor-related stocks,” said Cho Byung-hyun, a stock analyst at Yuanta Securities.

Tech-heavy Taiwan .TWII added 0.4 percent after Apple (AAPL.O) made big gains overnight.

But Chinese equities wobbled after data showed a sharper-than-expected slowdown in October factory growth.

Beijing’s war on winter air pollution is forcing many northern steel mills, smelters and factories to curtail production, adding to uncertainty amid early signs of a slowdown in the world’s second-largest economy.

China's blue-chip CSI300 index .CSI300 fell 0.2 percent and Hong Kong's Hang Seng .HSI dipped 0.1 percent.

Japan's Nikkei .N225 closed flat, capped by weaker U.S. shares and a stronger yen.

Wall Street pulled back from record-high territory on Monday, weighed down by a drop in drugmaker Merck (MRK.N) and a report that U.S. lawmakers are discussing a gradual phase-in corporate tax cuts rather than reducing it all at once. [.N]

“The report of the gradual corporate tax cut option came when equities were strung high, so it served as a catalyst for markets to adjust,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.

“Expectations were for the corporate tax to be cut in one go. But even if the cut is implemented gradually, it still is a reduction and that won’t be bad news in the long term.”

The dollar hovered near a 10-day low of 113.02 yen JPY= struck overnight.

The greenback lost about 0.4 percent against the yen overnight on investor caution after former Trump campaign manager Paul Manafort and another aide, Rick Gates, were charged with money laundering on Monday by federal investigators.

“It’s weighing on dollar/yen a little bit. I think there’s a little bit of uncertainty,” said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore, adding the yen drew some support as risk sentiment was looking a bit wobbly.

The yen showed little reaction to the Bank of Japan’s decision to stand pat on monetary policy even as it slightly cut its inflation forecast for the current fiscal year, an outcome that had been widely expected.

The U.S. currency was also pressured as Treasury yields slipped on reports that Trump is likely to appoint Federal Reserve Governor Jerome Powell, who is viewed as more dovish than other contenders, as the next head of the Federal Reserve.

The 30-year Treasury bond yield US30YT=RR fell to its lowest in a week after Bloomberg quoted Treasury Secretary Steven Mnuchin saying the government does not see a lot of demand for ultra-long bonds.

The dollar index against at basket of six major currencies .DXY steadied at 94.547 after slipping overnight from a three-month high of 95.150.

The euro was little changed at $1.1637 EUR=. It had pulled back overnight from a three-month low of $1.1574 on Friday.

European markets got a lift on Monday after an opinion poll showing waning support for independence soothed investors’ concerns over a Catalan secession from Spain.

Crude oil prices steadied below their recent peaks after being boosted by expectations OPEC-led production cuts would be extended beyond March.

Brent crude futures LCOc1 was down 0.2 percent at $60.78 a barrel after rising to $61 overnight, the highest since July 2015.

U.S. crude CLc1 was 0.1 percent lower at $54.09 after touching $54.46, its highest since late February.

...


64x64

October 30 2017 trading report www.mse.mn

On October 30, 2017, 354,930 shares of 22 firms listed as Tier I, II, and III were traded. 7 firms’ shares increased in price, 12 decreased and 3 remained unchanged. Gobi JSC /GOV/ was the top performer, increasing 4.73 percent, whereas Mongol Post JSC /MNP/ was the worst performer, decreasing 13.56 percent.

On the secondary market for government bonds, 3,000 bonds with a value of MNT296.5 million were traded.

The MSE ALL Index decreased by 0.36 percent to stand at 1,139.54 points. The MSE market cap stands at MNT 2,198,753,225,449.

...


64x64

Glencore raises marketing guidance, lowers output www.mining.com

LONDON, Oct 30 (Reuters) – Glencore on Monday cut its output forecast for core commodities including zinc, but raised its marketing division’s full-year earnings before interest and tax (EBIT) to between $2.6 billion and $2.8 billion, reflecting higher raw materials prices.

Its previous 2017 marketing, or trading, EBIT guidance was $2.4 billion to $2.7 billion, which was already an upward revision from $2.1 billion to $2.4 billion at the start of the year.

In its third-quarter production report on Monday, Glencore lowered its output guidance for copper, zinc and coal, citing operational difficulties, maintenance and end-of-mine-life declines, but it said full-year earnings would not suffer.

Analysts said it had been a weak quarter, but marketing conditions were favourable.

The share price rose 0.43 percent by 0912 GMT, slightly more than the broader market.

“Overall, we see today’s results as slightly negative, though the marketing EBIT guidance upgrade is a clear positive,” analysts at Bernstein said in a note.

They reiterated their “outperform” rating, saying Glencore’s commodity mix makes it well-placed for an increase in demand from electric vehicles.

For zinc output, Glencore cut its 2017 guidance to 1.1 million tonnes (+/- 15,000 tonnes) from 1.13 million tonnes (+/- 25,000 tonnes) seen in August.

Glencore’s zinc production has been in focus as a doubling in the market since the start of last year has raised questions over whether Glencore would bring back the production it shut in when the market was much weaker.

CEO Ivan Glasenberg has said he will only raise zinc output once he is confident any increase will not drag the market lower.

...


64x64

Mongolia and Russia to intensify border cooperation www.montsame.mn

 
Ulaanbaatar /MONTSAME/ A joint working group concerning the border cooperation at the Mongolian Ministry of Justice and Home Affairs and the Russian Ministry of Internal Affairs held its meeting on October 24 in Ulan-Ude, Russia.
The meeting was co-chaired by B.Enkhbayar, Deputy Minister of Justice and Home Affairs of Mongolia and I.N.Zubov, Deputy Minister of Internal Affairs of the Russian Federation.
The parties shared views and information on crimes near borders, measures combating terrorism and extremism, fighting illicit trade of drugs and narcotic substances, strengthening the control and cattle-lifting. As a result of joint efforts, the number of animal theft nears borders declined. Although the number of Mongolians who commit crimes while travelling to Russia has decreased, Mongolian travelers are still becoming victims of crimes, the sides noted.
During the meeting, the sides decided to hold short-term training on fighting illegal drug trafficking and ensuring security in case of public events or extremist actions with help of instructors of training organizations at the Russian Ministry of Internal Affairs.
 
The next meeting of the joint working group will be held in 2018 in Mongolia.
...