1 MONGOLIA-CHINA AGREE TO COLLABORATE IN INCREASING MEAT EXPORT WWW.MONTSAME.MN PUBLISHED:2018/09/21      2 U.S. AND MONGOLIA SEEK TO STRENGTHEN ECONOMIC RELATIONSHIP WWW.STRTRADE.COM PUBLISHED:2018/09/21      3 MONGOLIA, U.S. LEADERS DISCUSS BILATERAL TIES WWW.XINHUANET.COM PUBLISHED:2018/09/21      4 BELT AND ROAD SIGNIFICANT TO MONGOLIA, PEOPLE AROUND WORLD -- ACADEMIC WWW.ENG.YIDAIYILU.GOV.CN PUBLISHED:2018/09/21      5 PETRO MATAD UPDATES MONGOLIA EXPLORATION WWW.OGJ.COM PUBLISHED:2018/09/21      6 RIO TINTO’S EXIT FROM COAL PAYS OFF, TO RETURN $3.2B FROM SALES PROCEEDS TO SHAREHOLDERS WWW.MINING.COM PUBLISHED:2018/09/21      7 OPENING CEREMONY OF SAINSHAND SALKHIN PARK HELD WWW.MONTSAME.MN PUBLISHED:2018/09/21      8 ALIBABA’S MA SAYS TRUMP’S TRADE WAR ‘DESTROYED’ HIS PROMISE TO CREATE JOBS FOR 1MN AMERICANS WWW.RT.COM  PUBLISHED:2018/09/21      9 LEGAL DISPUTE OVER EMC OWNERSHIP COMES TO AN END WWW.ZGM.MN PUBLISHED:2018/09/20      10 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      НУРАХ ДӨХСӨН БАЙРУУДЫГ ШИНЭЧЛЭХ КОМПАНИ ОЛДОХГҮЙ БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛС ВАШИНГТОН, ПЁНЬЯНЫ ХЭЛЭЛЦЭЭРТ ЗУУЧЛАХАД БЭЛЭН ГЭДГЭЭ ЗАРЛАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УЛСЫН ХЭМЖЭЭНД 85.3 МЯНГАН ТОНН ТӨМС ХУРААН АВААД БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/21     ЗГ: БУЦАЛТГҮЙ ТУСЛАМЖИЙГ УСНЫ НӨӨЦИЙГ САЙЖРУУЛАХ, ХЭРЭГЛЭСЭН УСЫГ БУЦААН АШИГЛАХАД ЗАРЦУУЛНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     ҮСХ: УЛААНБААТАРТ АЖИЛЛАГЧДЫН САРЫН ДУНДАЖ ЦАЛИН УЛСЫН ДУНДЖААС 121.7 МЯНГАН ТӨГРӨГӨӨР ИХ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/21     МОНГОЛ УЛСЫН ИХ ХУРАЛ, ЕВРОПЫН ПАРЛАМЕНТ ХООРОНДЫН XII УУЛЗАЛТААР ХАМТАРСАН МЭДЭГДЭЛ ГАРГАЛАА WWW.DNN.MN НИЙТЭЛСЭН:2018/09/21     ТӨРИЙН АЛБАНЫ УДИРДАХ АЖИЛТНЫ УЛСЫН ЗӨВЛӨГӨӨН БОЛЖ БАЙНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/09/21     2019 ОНЫГ МОНГОЛ, АМЕРИКИЙН ЗАЛУУЧУУДЫН ЖИЛ БОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2018/09/21     УУРХАЙЧДЫН АЖЛЫН БАЙР НЭМЭГДЭЖ, ЦАЛИН ӨСЧ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/20     “ЭРДЭНЭТ”-ИЙН 49 ХУВИЙН ӨМЧЛӨЛ ТОЙРСОН ХУУЛЬ ЗҮЙН МАРГААН ЭЦЭС БОЛЛОО WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/20    

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

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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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Chinese exports accelerate as U.S. prepares new tariffs in heated row www.reuters.com

BEIJING (Reuters) - China’s exports surged more than expected in July despite fresh U.S. duties and its closely watched surplus with the United States remained near record highs, as Washington finalised its new tariff list in a bitter dispute that some fear could derail global growth.

In the latest move by President Donald Trump to put pressure on Beijing to negotiate trade concessions, Washington is set to begin collecting 25 percent tariffs on another $16 billion in Chinese goods on Aug. 23. Both countries have already slapped tit-for-tat duties on $34 billion of each other’s goods.

China has repeatedly warned it will strike back, and has already begun enforcing or is getting ready to enforce its own retaliatory tariffs, saying the United States is threatening the global free trade order with its protectionism.

China’s headline numbers are the first readings of the overall trade picture for the world’s second-largest economy since U.S duties on $34 billion of Chinese imports came into effect on July 6.

China’s surplus with the United States shrank marginally to $28.09 billion last month from a record $28.97 billion in June. Washington has long criticized China’s trade surplus with the United States and has demanded Beijing cut it.

Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

A weaker yuan, which marked its worst 4-month fall on record between April and July, may have taken the sting out of 25 percent tariffs on $34 billion exports to the United States. However, analysts still expect a less favorable trade balance for China in coming months given it’s early days in the tariff brawl.

“Looking ahead, we expect export growth to cool in the coming months, though this will primarily reflect softer global growth rather than US tariffs, the direct impact of which will continue to be mostly offset by the renminbi’s (yuan’s) recent depreciation,” Capital Economics’ Senior China Economist Julian Evans-Pritchard wrote in a note.

After a strong start to the year, growth in the world’s second-largest economy cooled slightly in the second quarter, partly hit by the government’s years-long efforts to tackle debt risks.

The worry is that the escalating Sino-U.S. trade war, rising corporate bankruptcies, and a steep decline in the value of the yuan versus the dollar could put a significant dent on the economy.

The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more “active” fiscal policy.

World financial markets have taken a battering in recent months as fears grow that Trump’s “America First” policies could derail a global economic revival.

“STICK OF HEGEMONY”
Chinese state media, reflecting the government’s stance, has said China will not be cowed in the face of U.S. threats.

The latest commentary from state media on Wednesday took a softer line after resorting to personal attacks against Trump earlier in the week, saying China could get through the storm but refrained from directly mentioning the U.S. president.

All China’s main state newspapers published a lengthy commentary by the official Xinhua news agency, entitled “declaration”, on their front pages.

“Certain people go against the tide for their own private ends and go against morality; the barrier of tariffs wantonly rise, and the stick of hegemony is raised all around,” the commentary said.

“Although this may for a moment bring preening with delight, it will make it hard to resolve economic imbalances or out of kilter politics and other deep-rooted problems,” it said.

China has already retaliated against the United States with its own tariffs and proposed others if Washington goes ahead with all its threats.

It has not yet given a date for its previously announced retaliatory tariffs on $16 billion in U.S. goods, which will target commodities such as crude oil, natural gas, coal and some refined oil products.

The latest $16 billion list from the United States will hit semiconductors from China, even though many of the basic chips in these products originate from the United States, Taiwan or South Korea.

John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list.

“We have made the case to the Administration, in the strongest possible terms, that tariffs imposed on semiconductors imported from China will hurt America’s chipmakers, not China’s, and will do nothing to stop China’s problematic and discriminatory trade practices,” he said.

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Mongolbank Governor meets World Bank Country Director www.montsame.mn

Ulaanbaatar/MONTSAME/ On August 7, Governor of the Bank of Mongolia N.Bayartsaikhan met representatives headed by Mr. Bert Hofman, World Bank's Country Director for China, Mongolia and Korea in the East Asia and Pacific Region, based in Beijing.

During the meeting, the parties discussed implementations of the IMF’s ‘Extended Fund Facility’ arrangement and WB’s ‘Economic Management Support Operation First Development Policy Financing’, being realized in Mongolia, and exchanged views on positive effects of the programs to Mongolia’s economy.

Mr. Bayartsaikhan appreciated for support of Mr. Bert Hofman to implementation of the programs.

M.Unurzul

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MBD (B2B) Business offers # 17 www.mongolianbusinessdatabase.com

www.mongolianbusinessdatabase.com is the number 1 ranking B2B portal site on Google's "Mongolia business or/and Business Mongolia" search according to the business visitors access from appx 90 countries as of today (Google analytics report).

Please review the following MBD business offers package number 17 and feel free to visit www.mongolianbusinessdatabase.com for more information on each offer and contact us.
MBD Admin: contact@mongolianbusinessdatabase.com 99066062

Fertilizer and animal feed (Czech)
Seeking the partner for investment

Magazine on health (Turkey)
Seeking the partner

Medical equipment (Japan)
Seeking the partner

Bio toilet (Japan)
Seeking the partner

Bathroom/kitchen facility (Slovenia)
Seeking the partner

Food processing technology, ingredients (Czech)
Seeking the partner

Tesla batteries (Czech)
Seeking a partner

Sport bag and wears (Pakistan)
Seeking the partner

Garden machines (Czech)
Seeking a partner

PVC-aluminum processing machines (Turkey)
Seeking a partner

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Cooperation in steel production discussed with Sinosteel Corporation www.montsame.mn

Ulaanbaatar /MONTSAME/ The representatives of Sinosteel Corporation, one of the world’s major steel producers, visited the Erdenes Mongol LLC and got acquainted with its operations.

Sinosteel, the state owned company of China, operates in Australia, Cameroon, South Africa, Zimbabwe, Indonesia and Philippines in iron ore and nickel ore. During the meeting, Mr. O.Odbayar, Vice President in charge of Strategy and Planning at the Erdenes Mongol LLC, introduced the company’s activities and highlighted the opportunity to cooperate in coking coal and steel production.

Sinosteel expressed their willingness to cooperate with Erdenes Steel LC, established jointly with Beren Group in steel production to meet the growing demand for steel and produce import substitute products in Mongolia. Specifically, the company is interested in improving the feasibility study of the Coke and Steel plant to be established by Erdenes Steel. The Independent Director of ‘Sinosteel’ Yiguang Hu said “Mongolia has a full potential to develop steel production based on its rich iron and coking coal reserves.”

China, the world's largest consumer and manufacturer of steel, is shutting small steel factories under its strict policy of environmental protection. The country is interested in investing in steel production projects and programs in neighboring and other countries and exporting finished products. For the last two years, Erdenes Mongol LLC has been working actively in development of steel production in Mongolia.

In addition, Mr. Yiguang Hu noted that China’s policy on environment protection is in line with the US and European policies.

B.Misheel

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Mongolia’s immigration officials visit South Korea www.akipress.com

Delegates led by D. Murun, Chairman of Mongolia Immigration Agency, paid an official visit to Seoul, the Republic of Korea from July 29 to August 1 at the invitation of Korea Immigration Service of the Ministry of Justice, Montsame reports.
Alongside seeing activities of Korea Immigration Service, the delegates held several official meetings and exchanged views on multilateral issues, including expansion of further cooperation and improvement of travel conditions of people.

During the meetings, Mongolian side put requests forward Korean side to resolve some matters, such as to study possibilities to facilitate issuance of Korean visa to family members of Mongolians working in South Korea under the employment contract; to issue multiple entry visa to Mongolians under the 2012 intergovernmental agreement as well as to eliminate practices of rejecting Mongolians who obtained Korean visa according the applicable regulations to enter Korea at the border. The Korean side accepted the requests positively.

Moreover, the sides signed a Memorandum of Understanding on cooperation between Mongolia Immigration Office at ‘Chinggis Khaan’ International Airport and Immigration Service at Gimhae International Airport of Busan.

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BoM Vice President meets authorities of Mongolian Gold Producers' Association www.montsame.mn

Ulaanbaatar /MONTSAME/ Vice President of the Bank of Mongolia (BoM) B.Lkhagvasuren held meeting with representatives of the Mongolian Gold Producers' Association (MGPA) within the framework of the ‘National Gold to the Fund of Treasures’ campaign.

During the meeting the gold producers pointed out some difficulties they face. Tax rate for an economic entity incorporated in Mongolia is ten per cent for the first MNT3 million and MNT300 million, plus 25 percent for all income exceeding MNT3 billion (the Article No.17.1 of the Law on Corporate Income Tax). The tax rate burdens gold mining companies and revoking licenses in some instances slows down gold mining process, too many unnecessary inspections are carried out from relevant authorities, complained the gold miners, noting the necessity of citizens and civil servants' correct understanding on gold mining.

Vice President of BoM B.Lkhagvasuren informed on the planned measures to be taken by the Mongolbank. The BoM has developed a bill and is cooperating with relevant government agencies to extend the term of the Article 47.3.3 of the Minerals Law, ‘Royalty for gold sold to the BoM and authorized banks, as stipulated in article 47.3.2 of this Law, is equal to 2.5 percent, additional fees set forth in Article 47.5 of this Law is equal to 0 percent’ until January 1, 2024.

Mr. B.Lkhagvasuren also pledged to meet with relevant government organizations on the issues of overlapping inspections conducted by aimag and soum authorities, special inspection offices, environmental inspectors and police officers, reducing the red tape and supporting responsible mining. Moreover, he emphasized the preparation work for establishing precious metals assay laboratory in rural areas and works for supporting mining and export of ecological gold.

Within the framework of the ‘National Gold to the Fund of Treasures’ campaign, the parties agreed to organize a joint meeting to improve awareness of gold mining to relevant officials of public organizations, local administrations and citizens in October this year.

B.Misheel

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Nearly 30,000 people opened brokerage accounts since beginning of 2018 www.gogo.mn

In the first seven months of 2018, roughly 30,000 individuals and entities opened brokerage accounts. The Mongolian Central Securities Depository reported that domestic citizens account for 99.7 percent of the new brokerage account holders, while foreign citizens make up 0.21 percent of the total share. The number of newly-opened brokerage accounts quadrupled compared to the same period in 2017.

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