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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

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Speaker M.Enkhbold meets IPU President S.Chowdhury www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On the sidelines of his attendance in the 136th Assembly of the Inter-Parliamentary Union (IPU), Chairman of the State Great Khural M.Enkhbold has met with IPU President Saber Chowdhury.
 
Parliament Speaker M.Enkhbold congratulated on the successful organization of the IPU Assembly at home and said “Mongolia has been an active member of IPU since entry in 1962. Our cooperation was updated when a permanently operational parliament was established in Mongolia in 1992”.
 
The 136th IPU Assembly is being organized in Dhaka, Bangladesh on April 1-5.
 
The Speaker expressed satisfaction with the fact that this year’s assembly is taking place under the theme regarding the elimination of inequality worldwide, sustaining growth and ensuring convenient living environment for the peoples. “The Mongolian Parliament has passed Concept on Sustainable Development-2030. The countries around the world adopted the Sustainable Development Goals in 2015. Mongolia will remain faithful in its efforts to fulfill these goals”, highlighted Mr. M.Enkhbold.
 
He put a request to include the officials of the Secretariat of the State Great Khural (Parliament) of Mongolia in training, workshops and other activities, being organized by IPU, as the Mongolian parliament secretariat is currently chairing the Asia-Pacific group in IPU.
 
Mr. Saber Chowdhury began his response by noting that Mongolia has been taking active parts in IPU actions.
 
It is certain, judging from the contemporary situations in the world, that legislatures of all countries must collaborate, said the IPU President. “We should recognize that the public has been expecting more from our actions. The necessity for coordination and coherence between parliaments is greater than ever”, he underlined.
 
The latter accepted Mr. Enkhbold’s request and asked the Mongolian Speaker to send a delegate to participate in the Meeting of the Human Rights Commission of IPU. “We would appreciate if Your [Mongolian] parliament would organize the framework of self-assessment, in regard of the importance of capacity building within the legislature, in cooperation with the UN Development Programme”, he suggested.
 
Speaker M.Enkhbold responded the State Great Khural will be sending D.Lundeejantsan, who is a respected parliamentarian, to the Human Rights Commission meeting.
 
The dignitaries also touched upon the matter of establishing friendship groups of Mongolia and Bangladesh in own parliaments.
 
 
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Japan-US economic dialogue planned for April 18th www3.nhk.or.jp

 
Japan will soon begin high-level talks with the US Trump administration on trade and the economy. The first economic dialogue is planned for Tokyo on April 18th.
 
The 2 countries' leaders agreed to launch the forum at their summit in February.
 
Japanese Deputy Prime Minister Taro Aso and US Vice President Mike Pence will lead the talks. Fiscal and financial policy, economic cooperation and bilateral rules on trade and investment are the key topics.
 
Japan is planning to propose cooperation in high-speed railways and the development of shale gas and other energy sources. Officials also hope to discuss ways to counter unfair dumping practices.
 
Japan is also preparing for a visit by US Commerce Secretary Wilbur Ross, who has told the media that he is planning his visit to Tokyo to coincide with the economic dialogue.
 
 
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13th forum of Mongolians abroad approaching www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The annual ‘Forum for the Development of Mongolia’ of Mongolians living abroad is going be held in London on April 6, Thursday.
 
Having become a tradition of the Mongolian people abroad since 2005, the forum sees its 13th edition under the theme ‘Mongolia’s Opportunities’ this year.
 
Hosted at the auditorium of the European Bank of Reconstruction and Development, the forum is expected to gather about 70 Mongolians living in 14 countries across the globe and researchers and scholars from the Russian Federation, Australia and the US who have insight into social and economic aspects of Mongolia.
In addition to side sessions themed ‘Doing business in Mongolia, challenges and solutions’ and ‘Maturity in Social and Legal Spheres’, a meeting of Council of Mongolians Abroad will also be held on the sidelines of the forum, and the Ministry of Foreign Affairs will report on government policy concerning Mongolian nationals living abroad.
 
The forum is co-organized by the Ministry of Foreign Affairs, Mongolian Embassy in the UK, Mongolian Association in the UK, Tsahim Urtuu Holboo NGO, Mongolian Business Database and Council of Mongolians Abroad.
 
 
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World Bank collaborating with Ulaanbaatar to protect investors' rights www.en.montsame.mn

 
Ulaanbaatar /MONTSAME Officials of the World Bank Representative office in Mongolia and the capital Ulaanbaatar Administration exchanged information and views on how to collaborate to support a capital’s council to protect investors’ rights within the framework of a project being implemented by the World Bank in cooperation of the Government of Mongolia.
 
Last Friday, March 31, Governor of the Capital and Mayor of Ulaanbaatar S.Batbold met delegates of the World Bank to discuss the issue. The World Bank delegates of the Department of Trade and Competition introduced that the project would collaborate with the capital in creating a mechanism to resolve complaints and proposals of investors through developing and introducing IT programs to receive investors’ complaints and proposals and to make analysis on them and monitor the solution, based on the existing system of receiving complaints and proposals in the capital city as well as developing related regulations.
 
The World Bank delegates underlined the importance of collaborating with Ulaanbaatar as over 50 per cent of the population of Mongolia resides in the city as well as sustaining a policy to attract investors for a longer period.
 
Governor S.Batbold said “ – It is difficult to resolve pressing issues of the capital and the country without investors. For that, the way of cooperation between investors, businessmen and the capital should be clear. We are ready to support you on utilizing some existing structure, mechanism and experiences of the capital”.
 
 
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Mongolia and Bangladesh agree to establish its parliamentary groups www.mongolia.gogo.mn

 
Chairman of the State Great Hural (Parliament) of Mongolia Mr. Miyegombo ENKHBOLD, who is attending the 136th Assembly of the Inter-Parliamentary Union in Dhaka, has met the Inter-Parliamentary Union (IPU) President Mr. Saber Chowdhury today on April 1, 2017.
At the beginning of the meeting, Chairman M.Enkhbold congratulated Mr. Chowdhury on successfully hosting the Assembly and noted that Mongolia has been actively participating in measures organized by the IPU since becoming a member of the organization. Mongolia joined the IPU in 1962 and since the establishment of permanent functioning parliament of Mongolia in 1992, the bilateral collaboration and relationship achieved new levels.
“We are satisfied the Assembly is meeting under the theme of ‘Redressing inequalities: Delivering on dignity and well-being for all’. Mongolian parliament ratified its ‘Sustainable Development Vision until 2030’ and we will be working hard as previously in order to achieve the objectives. As of Mongolian parliament is chairing the IPU Asia-Pacific group, the Secretariat of the Parliament of Mongolia will be also assuming the IPU Secretariat and therefore, we would like to bring your attention to involve our Secretariat staff in relevant programs and training organized by the IPU”, added Mr.Enkhbold.
The IPU President S.Chowdhury affirmed that Mongolian parliament has been actively participating in the IPU activities and further noted national parliaments of the states should closer collaborate than ever before. The IPU provides with opportunities to involve Secretariat officers in training and practicing, in this scope, Mongolian officers are able to take part in.
Concluding the meeting, the sides expressed its readiness to establish Mongolia-Bangladesh parliamentary groups in both parliaments in order to broaden bilateral relations and cooperation.
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UK's International Trade Minister visits Stock Exchange www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On March 31, Friday, Mongolian Stock Exchange welcomed Mark Garnier MP, the UK's International Trade Minister. To honor the occasion, he rang the bell to open Friday’s securities trading session.
 
Minister Mark Garnier, a former investment banker majoring in emerging markets, was involved in developing Mongolian capital market by sharing his opinions and suggestions within the framework of the cooperation between London Stock Exchange Group and Mongolian Stock Exchange.
 
During the visit, he got acquainted with MSE’s current activities and market operation and expressed his willingness to promote the cooperation of two exchanges as well as investments towards Mongolia from the UK based investment funds.
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Bill making cryptocurrencies legal way of payment comes into force in Japan www.rt.com

 
New legislation authorizing digital currency as a legal payment method has come into force in Japan.
The text of the law was released by Japan’s Financial Services Agency on March, 24.
 
Earlier this week, the Accounting Standards Board of Japan said that it would begin work on the creation of a framework to help understand how digital currency would be dealt with in the accounting sector. The process is expected to take six months, according to Nikkei.
 
Big business is especially concerned; since the country has failed to provide guidelines regarding the accounting process when dealing with cryptocurrencies.
 
“There is a risk that companies that hold virtual currency could turn out to have distorted valuations or that huge losses surface suddenly,” Chikako Suzuki, partner at PricewaterhouseCoopers Aarata, told Nikkei Asian Review.
 
Around $1.7 billion of cryptocurrency, including bitcoin, Ripple, Litecoin and others, was in circulation across Japan two years ago. The 2020 projection is set to be at $9 billion, according to a Fuji Chimera Research Institute study.
 
The set of measures, that now has come into force, was drafted as far back as 2015 and passed in 2016 after a year of negotiations. Uncertainty over the legal status of virtual currency was stirred after a multi-million dollar embezzlement scandal and the collapse of the Tokyo-based Mt.Gox Bitcoin exchange.
 
Mt.Gox, once largest exchange service for the cryptocurrency, collapsed in 2014 when 850,000 coins ($480 million at the time) went off its digital vaults.
 
The company, which dealt with around 80 percent of global bitcoin transactions, admitted that there was a bug in their system that allowed hackers to steal the coins.
 
The new law outlines that all virtual currency exchanges are to be regulated by the Japanese Financial Services Agency. They must be registered with the financial watchdog and verify the identity of customers opening accounts.
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Tesla reports record car deliveries www.bbc.com

 
In a record quarter, Tesla delivered just over 25,000 cars in the first three months of the year.
The electric car maker said that was a 70% rise on the same period of 2016.
It is a rebound for the US company after production problems late last year resulted in a 9% fall in deliveries in the fourth quarter.
Tesla was founded in 2003 and is controlled by entrepreneur Elon Musk, who also owns the space rocket firm, SpaceX.
Last week China's Tencent Holdings bought a 5% stake in Tesla for almost $1.8bn.
That was a boost for the company which has been investing heavily in raising production and faces an expensive year, with the launch of the new Model 3.
It is a medium-sized car which Tesla describes as its "most affordable" car yet and it hopes will have mass market appeal.
The Model 3 is due to go on sale in the US this year priced at $35,000 (£28,000).
That would be significantly cheaper than Tesla's current models - the Model X, an SUV, and the Model S, a sporty saloon, both priced at more than $70,000 (£56,000).
In the first quarter Tesla delivered 13,450 Model S cars and 11,550 of the Model X.
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Chancellor Hammond leading UK trade mission to India www.bbc.com

 
Chancellor Philip Hammond will lead a business delegation to India next week to drum up trade as the UK begins the process of leaving the EU.
He will be joined by international trade minister Mark Garnier and Bank of England governor Mark Carney for the talks in New Delhi and Mumbai.
Mr Hammond said boosting trade and investment "beyond the borders of Europe" was more important than ever.
He said it was vital to make links with "the world's most vibrant economies".
Last week Prime Minister Theresa May formally activated Article 50 of the Lisbon Treaty, starting a two-year countdown for quitting the 28-nation bloc.
'India's transformation'
The UK has started looking to establish new trade deals with non-EU nations over the coming years, although it cannot sign them while still a member of the bloc.
Mr Hammond said the UK was about to embark on an "exciting new phase of our economic history".
As well as Mr Garnier, Mr Carney and Commercial Secretary Baroness Neville-Rolfe, the Treasury said the trade mission includes some of the UK's most experienced leaders in financial services and financial technology.
Mr Hammond added: "The UK is perfectly placed to be India's financial partner of choice, helping it to raise the finance needed for its continued rapid growth and my message will be 'make in India, finance in the UK'.
"Our innovative markets have helped support the development of whole new product classes such as masala bonds that will support India's transformation."
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‘Transit Mongolia’ forum to be held in Beijing www.news.mn

The ‘Transit Mongolia-2017’ road and transportation forum will take place in Beijing on 7th of April. The forum is being organised by the Ministry of Road and Transport of Mongolia in cooperation with Ulaanbaatar Railways JVC.

Mongolia, which has a long border with China and offers important road and rail links to Russia and beyond, is set to become an important transportation “bridge” between Asia and Europe. Freight between China and Russia as well as China and Europe passing through Mongolia is set to rise as the route is considered by many as the most economically efficient route.

China aims to increase the volume of trade with Europe to USD 1 trillion by 2020 and to Russia to USD 200 billion. In this connection, China needs to secure faster trade routes. Container shipments travelling by sea are two to three times slower than by rail. China is, therefore focusing on developing rail and road transit between to and from Europe.

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