News

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

Sub-regional Workshop by UNCTAD and ITTLLDC succesfully organized in Ulaanbaatar, Mongolia www.news.mn

Sub-regional Workshop on “Fostering Structural Transformation and Export Diversification in Selected Asian Landlocked Developing Countries” was jointly organized in Ulaanbaatar, Mongolia, from 16 to 17 October 2018 by the International Think Tank for Landlocked Developing Countries, UN Conference on Trade and Development and the Government of Mongolia.

During the workshop, the International Think Tank for LLDCs, in cooperation with UNCTAD, introduced research results on structural economic transformation and export diversification, which is identified as Priority 5 in the Vienna Programme of Action for LLDCs.

Government representatives from Mongolia, Lao PDR, Bhutan, Kazakhstan, Kyrgyz Republic and Uzbekistan made presentations on the challenges, policies and best practices to diversify their economies.

The outcome of the workshop will help guide trade policy formulation and implementation at the national and sub-regional levels. It will contain a synthesis of the identified areas of trade potential, local gaps and limitations, together with policy recommendations aimed at addressing the challenges facing countries of the sub-region.

The results of the workshop will also feed into the mid-term review of the implementation of the Vienna Programme of Action for LLDCs in 2019.

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B.Batzorig: Domestic need of wheat and potatoes to be fully ensured www.montsame.mn

Ulaanbaatar /MONTSAME/ The Ministry of Food, Agriculture and Light Industry reports that volume of harvest per hectare of land has been increased this year. Specifically, grain was harvested at a yield of 14 centner this year whild it was 8.48 centner last year.

At present, harvesting of grain is running at 75.3 percent and 98.8 percent for vegetables. A total of 342.1 tons of grain has been harvested from 257.1 hectares, of which 330.4 thousand tons of wheat, 160.1 thousand tons of potatoes from 12.8 thousand hectares, 91.8 thousand tons of vegetables from 8.2 thousand hectares respectively. Some 80 thousand hectares were put at risk due to continued rain from the end of July till the mid of August as well as heavy snow at the beginning and mid of September. Regarding to it, the Ministry of Food, Agriculture and Light Industry sent a request to the National Emergency Management Agency to receive green fodder in its hay and fodder reserve.

“Although several barriers occurred due to weather condition, the damage was not huge at national level. We will ensure domestic need of wheat and potatoes at 100 percent,” said Minister B.Batzorig.

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China stocks see biggest spike since 2015 www.bbc.com

One of China's leading stock indexes has had its highest daily spike in more than three years following signs that the government will step in to support battered equity markets.

The Shanghai Composite jumped 4.4%, putting it on track for its biggest one-day rise since September 2015.

The moves extend a rally that began on Friday and after investor confidence surged on assurances from Beijing.

Stocks had been falling as China's economic growth continued to stutter.

On Friday, top Chinese financial officials - including economic advisor Liu He and the heads of the securities and insurance commissions - issued a statement to buoy investor sentiment in bruised markets.

"The barrage of headlines from key Chinese officials on Friday was deafening and extremely co-ordinated, which has been to great effect," Pepperstone analyst Chris Weston said in a research note.

Over the weekend, the government published a draft of new rules for personal tax deductions, according to Reuters.

The moves come as the world's second largest economy faces challenges such as high debt levels and an intensifying trade war with the US.

Data out Friday showed the Chinese economy grew at the slowest quarterly rate since the global financial crisis.

More pain to come in US-China trade war

The result was also a drop from the 6.7% rate in the prior quarter, but remains in line with the government's full-year target of about 6.5%.

For years China has pushed to wean itself off exports and rely more on domestic consumption for growth.

At the same time, the government has been fighting to contain ballooning debt driven by a wave of infrastructure development and a housing bubble without hurting growth.

In recent months Beijing has taken steps to support its economy, including cutting capital requirements to boost liquidity and ease the slowdown.

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Japan finds itself buried in plastic waste after China stops importing world’s trash www.rt.com

Nations across the globe are beginning to suffer from waste build-up, after China stopped importing recyclable garbage this year. Japan has become the latest country reporting severe recycling industry overload.
China’s ban on imports of 24 types of solid waste materials, such as soda bottles, mixed paper, recycled steel and newsprint, has impacted the recycling chain across the globe. Japan, which last year exported about half of its 1.5 million tons of annual plastic waste, is now piled higher and deeper in its own garbage, with many local governments struggling to cope with the problem.

About a quarter of 102 local governments surveyed reported seeing accumulated plastic waste, which in some cases overreached sanitary norms, Environment Ministry data showed this week. At least 34 municipalities noted that they are failing to find new destinations to outsource their plastic after domestic costs of processing waste shot up.

China’s refusal to accept more garbage is overstretching the Japanese recycling industry, with 34.9 percent of companies limiting or considering restricting the quantities of plastics they can accept. To deal with the problem, the Japanese ministry said it will expand domestic capacity to process plastic waste. The government also wants to introduce measures to prevent illegal dumping and expand the use of bioplastics, which are biodegradable.

A similar problem was reported this weekend in the UK, which last year exported roughly two-thirds of its recyclables. The Local Government Association (LGA) blamed the Chinese ban for the change in councils’ recycling methods which are forcing the local authorities to add an extra £500,000 a year in cost. “It’s clear that the ban by China on imported waste, which could soon be implemented by other countries, could have a marked impact on councils’ ability to recycle,” said Martin Tett, environment spokesman for the LGA.

China, which over the last 25 years was taking in 45 percent of cumulative plastic imports, without a doubt made a huge impact on the global recycling system. While many Chinese companies relocated their operations to Malaysia, the Asian country does not have the capacity to replace China and this week imposed a three-month ban on imports. We "will do our very best to ensure that Malaysia not be the plastic rubbish bin of developed countries," Science, Technology and Environment and Climate Change minister Yeo Bee Yin said.

Vietnam, which once welcomed foreign shipments, is also finding it hard to cope with recyclables, imposing a temporary ban on imports between June and October. Thailand, the other world destination of plastic goods, reportedly will ban imports by 2021. The closure of Asian countries to plastic will also affect the US, which in the first six months of this year, exported its recycling to Thailand, Malaysia and Vietnam.

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German Minister of Defense pays visit to Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ German Defense Minister Ursula Gertrud von der Leyen paid a visit to Mongolia on October 20 and Deputy Prime Minister of Mongolia U.Enkhtuvshin received the Defense Minister.

Deputy PM U.Enkhtuvshin emphasized that the Federal Republic of Germany has been cooperating with Mongolia in strengthening democratic and humanist society and in all sectors such as politics, society and economy and rendering supports, noting that cooperation in defense plays an important role in Mongolia- Germany comprehensive partnership. He then expressed gratitude to the Government of the Federal Republic of Germany and the Ministry of Defense for training human resources of the Mongolian army for free and rendering non-refundable technical and equipment aids.

In her turn, German Minister Ursula Gertrud von der Leyen expressed satisfaction with the expansion of cooperation in all sectors.

She also said, “Mongolian army has been making invaluable contribution to the NATO’s Resolute Support Mission in Afghanistan. Although Mongolia’s mandate to this mission will expire soon, I have no doubt that the National Security Council of Mongolia will make decision on renewing the mandate.”

Moreover, Minister Ursula Gertrud von der Leyen pledged that Germany will further cooperate with Mongolia in directions of sciences, research and training.

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Mongolian memory athletes share secrets of success www.xinhuanet.com

ULAN BATOR, Oct. 21 (Xinhua) -- Mongolia's memory athletes have been very successful in international competitions in recent years, earning them the admiration of their fellow countrymen as well as international acclaim.

Xinhua has recently interviewed director of the Mongolian Intellectual Academy (MIA) Khandsuren Khatanbaatar and his student Enkhtuya Lkhagvadulam on secrets behind the success of Mongolia's national memory sports team.

The Mongolian team has won a total of 861 medals at 80 international competitions over the past eight years, according to the MIA.

And athlete Narmandakh Munkhshur was included in the Guinness Book of Records as the most playing cards memorized in an hour. She memorized 1,924 cards in an hour at the 2017 World Memory Championships held in Shenzhen, China, on Dec. 6-8.

The success of Mongolian memory athletes is related to many factors, said Khatanbaatar, who is known as the godfather of memory sports in Mongolia.

Observers say it can be attributed to the combination of talent and hard work.

"I have no doubt that success of our athletes is related to their IQ. Several IQ rankings have placed Mongolians in the top 10 nations," Khatanbaatar said.

He also mentioned approaches the athletes used to strengthen their concentration -- picturing themselves as world champions before every training and competition and using music alpha waves.

The MIA also contributes its due share to the success of the athletes.

"Success of our athletes is a result of good curriculum of the MIA that is suitable for characteristics of them," Khatanbaatar noted.

Established in 2010, the MIA has trained over 10,200 people in different mental sports.

Currently, the academy has five branches in the Mongolian capital Ulan Bator and each one branch in five provinces, namely Selenge, Darkhan-Uul, Orkhon, Khuvsgul and Umnugovi.

The academy aims to open its branches in remaining 16 provinces of the country to further develop mind sports and increase access to its training program within 2019.

"I am confident that there are many children in the countryside who have hidden talents. So, we aim to open our academy's branches in all provinces of the country within next year," director of the MIA said.

"Memory sports are open to everybody. It is just a method and techniques that need to be learned," he said.

Lkhagvadulam, a 16-year-old girl, is one of the best memory athletes in Mongolia. She became the world memory champion in the junior category last year.

The teenager started as a memory athlete only about three years ago.

"Now, I am preparing to participate in the 27th World Memory Championship 2018 in China's Hong Kong Special Administrative Region in December. I aim to defend my championship title and break my own world records," she said.

Currently, Mongolian athletes hold 14 out of 18 junior memory sports world records. 10 of them belong to Lkhagvadulam.

She set world records in 5 minutes binary and 10 minutes cards last year.

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Mongolia may join talks on Korean Peninsula denuclearization: Russia www.newindianexpress.com

MOSCOW: Russia thinks it is possible that Mongolia might enter the six-party talks on the Korean Peninsula denuclearization, comprising Russia, China, North and South Korea, the United States and Japan, Russian Deputy Foreign Minister Igor Morgulov said in an interview with TASS.

The restart of negotiations in this format was discussed earlier this week with the US special representative for North Korea, Steven Biegun, he said.

"We make no secret of the fact that we believe it appropriate to restart six-party negotiations. At the same time, we allow for some changes in that format," the diplomat said.

"If we speak about a mechanism of peace and security in Northeast Asia, Mongolia is located there and it is part of Northeast Asia, along with participants in the six-party talks. It cannot be ruled out that Mongolia might enter those consultations at some stage and then they could become seven-party talks," Morgulov stressed.

The senior diplomat added that Moscow was open for discussion of any options.

"The main thing is that consultations should be multilateral engaging all key actors that have real interests in the region and are motivated to maintain stability and peace," he concluded.

The six-party talks on denuclearization of the Korean Peninsula, which comprise North and South Korea, Japan, China, Russia and the United States, were suspended at Pyongyang's request in 2008.

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Mongolia seeks support for eco-city during ASEM Summit www.zgm.mn

President of Mongolia Battulga Khaltmaa has attended the 12th Asia-Europe Meeting (ASEM) Summit and held bilateral meetings with high-profile officials of ASEM members to seek support on upcoming projects including the new eco-city. At the opening of ASEM Summit, the President delivered a speech, highlighting the summit as a successful continuation of the Ulaanbaatar Summit in terms of its content, and addressed, “It has been widely comprehended and recognized that in the 21st century, every development aspect should be people-centered. Therefore, although it is important to develop mutually beneficial cooperation at all levels between Asia and Europe, I would like to emphasize the importance of promoting the people-to-people interactions and maintaining and developing the ASEM traditions that allow both cultural and business representatives to meet and develop their ties.” Later on during the first plenary session of ASEM Summit, the President stressed, “Mongolia strives to contribute to the activities and development of ASEM and on the other hand, we aim to intensify our cooperation with ASEM that has been significantly contributing to the implementation of our national development priorities.” After pointing out that Mongolia is planning to implement a number of projects within the framework of the Mongolia-Russia-China Economic Corridor program, such as conducting study on opportunities to build the natural gas pipeline from Russia to China through the Mongolian territory, and commencing the feasibility study for a Free Trade Agreement with the Eurasian Economic Union, he promoted the North East Asian Supergrid project Mongolia initiated during the Eastern Economic Forum.

President Battulga spoke about Mongolia’s opportunity to enter the enormous market of neighboring China by using German technology to process materials of animal origin and noted that the establishment of a new eco-city is one of the most important steps towards resolving a challenge Ulaanbaatar faces. The Chancellor paid close attention to the President’s proposal on establishing an eco-city and decided to send Gunther Adler, State Secretary at the Federal Ministry of the Interior, Building and Community, on a visit to Mongolia. Chancellor Angela Merkel expressed her support for the project which aims to build a satellite eco-city near Ulaanbaatar based on designs of German architects and specialists.

Prime Minister of Hungary Viktor Orban

President Battulga proposed and discussed some matters, including on building a film studio and a new eco-city in Mongolia, particularly about cooperating in urban water supply and establishing a museum for Attila. Mr. Viktor Orban suggested that the proposal can be discussed at a meeting of the two countries’ intergovernmental commission that will take place in Hungary next month.

Angela Merkel expresses support on German architecture eco-city project
Prime Minister of the Kingdom of Norway Erna Solberg

President Battulga took interest in Norway’s wealth fund and inquired into the possibility of learning from their experience and adopting in Mongolia, as well as Norwegian technologies in manufacturing products of animal origin. Ms. Erna Solberg briefed about the functions of the wealth fund and expressed readiness to share the experience with Mongolia.

Prime Minister of the Socialist Republic of Vietnam Nguyen Xuan Phuc

Prime Minister of Vietnam spoke about the possibility of importing coal and main raw materials of textile products, including woolen threads and animal skin, from Mongolia and exporting sugar, coffee, vegetables, and fruits to Mongolia. Sides also exchanged views on the intensification of bilateral cooperation in all sectors.

Prime Minister of the Republic of Ireland Leo Eric Varadkar

President Battulga emphasized the importance of processing its raw materials of animal-origin and manufacture value-added products, given the number of Mongolia’s livestock which is nearing 80 million, for Mongolia. Sides also touched upon the development of tourism industry in Ireland. President Battulga expressed Mongolia’s interest in learning from the tourism industry experiences of Ireland which receives around 16 million tourists annually.

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President meets Norwegian Prime Minister on wealth fund experience www.montsame.mn

Ulaanbaatar /MONTSAME/ On the sidelines of the 12th Asia-Europe Meeting (ASEM) summit, President of Mongolia Khaltmaagiin Battulga met Prime Minister of the Kingdom of Norway Erna Solberg on October 19th.

Prime Minister Erna Solberg thanked President Battulga for the opportunity to meet and discuss bilateral cooperation, while emphasizing that there are some similarities between the two countries that have small population.

President Battulga took interest in Norway’s wealth fund and inquired into the possibility of learning from their experience and adopting in Mongolia. The President voiced his belief that it was possible to introduce Norwegian technologies in some sectors of Mongolia, especially to manufacture products out of raw materials of animal origin and supply to the Chinese market. President Battulga mentioned that this could be a big opportunity to support the two countries’ young businessmen. The President expressed interest in cooperating with Norway in education sector, learning from their experience in vocational training, and adopting the practice in Mongolia.

Prime Minister Erna Solberg highlighted the importance of quality vocational education as well as good engineers in national development and spoke about Norway’s integration of universities and colleges as a result of which the country now has nine universities. The Prime Minister also briefed about the functions of the wealth fund and expressed readiness to share the experience with Mongolia.

The sides exchanged views on cooperation in several areas, including technology, education, and wealth fund experience and expressed mutual commitment to supporting each other in the international arena.

Source: president.mn/en

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Turquoise Hill announces third quarter 2018 production and provides underground development update www.gogo.mn

Turquoise Hill Resources (Turquoise Hill or the Company) today announced third quarter 2018 production for Oyu Tolgoi and provided an update on underground development. Ulf Quellmann, Chief Executive Officer of Turquoise Hill, said, “We continued to see the impact of higher gold grades during the third quarter as Oyu Tolgoi processed increasing amounts of Phase 4 ore. We are well positioned to meet the upper-end of our 2018 production guidance.

“Rio Tinto has undertaken a second annual re-forecast of underground development schedule and costs and preliminary results have concluded that capital costs remain in line with the overall $5.3 billion budget and the project remains on schedule to complete in 2022. However, there are certain delays, most notably to the completion of Shaft 2, which includes schedule contingency, that are ultimately expected to result in a revised sustainable production start from the first quarter of 2021 to late in the third quarter 2021.

We are undertaking a review of the cause and the impact of these delays and will announce the results as soon as possible.” Third quarter mill throughput decreased 5.0% over Q2’18 due to increased processing of harder Phase 4 ore as well as a planned maintenance shutdown during the quarter. Copper production was flat over Q2’18 as higher grades and recoveries were partially offset by lower throughput. Gold production increased 54.0% over Q2’18 due to higher grades and recoveries.

Third quarter sales volumes were impacted by torrential rain in July and August, which consequently affected Chinese road and rail availability. Additionally, Q3’18 sales volumes were generally lower than Q2’18, which benefited from the sales of deferred volumes related to the Q1’18 force majeure. Turquoise Hill has updated Oyu Tolgoi’s expected copper production for 2018 from between 125,000 and 155,000 tonnes of copper to between 140,000 and 155,000 tonnes of copper in concentrates. The Company continues to expect production of gold in concentrates from between 240,000 and 280,000 ounces for 2018.

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Category

Events

Events

NEWS

Sub-regional Workshop by UNCTAD and ITTLLDC succesfully organized in Ulaanbaatar, Mongolia www.news.mn

B.Batzorig: Domestic need of wheat and potatoes to be fully ensured www.montsame.mn

China stocks see biggest spike since 2015 www.bbc.com

Japan finds itself buried in plastic waste after China stops importing world’s trash www.rt.com

German Minister of Defense pays visit to Mongolia www.montsame.mn

Mongolian memory athletes share secrets of success www.xinhuanet.com

Mongolia may join talks on Korean Peninsula denuclearization: Russia www.newindianexpress.com

Mongolia seeks support for eco-city during ASEM Summit www.zgm.mn

President meets Norwegian Prime Minister on wealth fund experience www.montsame.mn

Turquoise Hill announces third quarter 2018 production and provides underground development update www.gogo.mn

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