By production approach, Mongolia`s Gross Domestic Product (GDP) totaled MNT 35.2 trillion (over 10.3 billion U.S. dollars) in January- September period, which increased by MNT 5.3 trillion (17.7%) from the same period of the previous year.

GDP at 2015 constant price was MNT 20.3 trillion, which is increased by MNT 730.0 billion (3.7%) compared to the same period of the previous year.

The National Statistics Office reported that GDP at 2015 constant prices decreased by 6.7% in the first nine months of 2020, but increased by 3.7% in the first nine months of 2021 and 2022. In the third quarter of 2022, seasonally adjusted GDP at constant 2015 prices increased by 1.0% compared to the previous quarter.

The increase was mainly attributed to significant growth of the agricultural and mining sectors, Erdene-Ochir Myagmarkhand, a senior expert of the NSO said in a statement. In particular, to a 3.7% increase in GDP at 2015 constant prices in January- September, the agriculture sector contributed 1.6 percentage points, the mining and quarrying sector contributed -2.3 percentage points, the industry and construction sectors contributed 0.3 percentage points, the service sector contributed 2.4 percentage points and net taxes on products contributed 1.7 percentage points.

The value added of the agriculture sector at 2015 constant prices reached MNT 3.4 trillion in the first three quarters of 2022, which is increased by MNT 310.9 billion (10.2%) compared to the same period of the previous year and contributed 1.6 percentage points to GDP growth.

In the same period, the value added of the mining and quarrying sector at 2015 constant prices reached MNT 2.1 trillion, which decreased by MNT 444.9 billion (17.3%) compared to the previous year. This was caused by the decrease in the extraction of coal by 11.9 %, crude oil production by 66.9 %, and metal ores by 12.1%.

The value added of the industrial and construction sector at 2015 constant prices reached MNT 2.3 trillion, which increased by MNT 63.4 billion (2.9%) compared to the same period of the previous year. This increase was mainly due to a 3.7% increase in value added to the construction sector compared to the same period of the previous year.

The value added of the service sector at 2015 constant prices in the first half of 2022 was MNT 9.4 trillion, increased by MNT 474.1 billion (5.3%) compared to the same period of the previous year. This increase was mainly due to an 11.3% increase in the value-added of wholesale and retail trade, and an 8.7% increase in the value-added of the communication and information sector, compared to the same period of the previous year.

In the first nine months of 2022, the shares of final consumption, gross capital formation, and net exports (exports and imports) to GDP were 65.9%, 43.3%, -9.2% (share of export was 61.3%, and the share of import 70.5%, respectively).

Compared to the same period of the previous year, the share of gross capital formation increased by 3.8 percentage points, but the share of final consumption in GDP decreased by -0.2 percentage points, and the share of net exports decreased by -9.2 percentage points.

By expenditure approach, GDP at 2015 constant prices in the first nine months of 2022 was MNT 20.3 trillion and increased by MNT 724.2 billion (3.7 %) compared to the same period last year.

In terms of contributions of components to the 3.7% growth of GDP in the first three-quarters of 2022 final consumption contributed 5.3 percentage points, gross capital formation contributed 9.3 percentage points, and net exports contributed -10.8 percentage points. Within this period, the final consumption at 2015 constant prices was MNT 16.9 trillion and increased by MNT 1.0 trillion (6.5%) compared to the previous year.

The household consumption at 2015 constant prices was MNT 13.6 trillion, which increased by MNT 918.1 (7.2%) billion compared to the same period of the previous year. The contribution of household final consumption to the growth rate of GDP was 4.7 percentage points.

The standard of living for herdsmen is on the rise in Horqin Right Wing Middle Banner, in North China's Inner Mongolia autonomous region, thanks to the development of a complete beef cattle industrial chain.

Local herdsman Wu Qishisan has shaken off poverty by benefiting from the banner's cattle industry move.

The Agricultural Bank of Inner Mongolia broke through the local tradition that live cattle cannot be mortgaged, and innovatively carried out live cattle mortgage loans, which suddenly aroused the enthusiasm of farmers and herdsmen.

Wu borrowed a total of 400,000 yuan ($56,180) in loans in the past two years to build new standardized sheds and raise more than 100 Simmental cattle.

Simmental is a beef cattle breed with an improved quality compared with traditional breeds, a Simmental cattle can sell for 7,000 yuan more than a traditional one.

"The breeding benefits are getting better and better! " Wu said.

To date, the Agricultural Bank of Inner Mongolia has issued 2.53 billion yuan of live cattle mortgage loans in the banner, benefiting five leading enterprises and more than 22,000 herdsman households.

While sparking the increase of cattle breeding numbers, local resident enterprise Inner Mongolia Zhongnong Xing'an Breeding Cattle Technology Co provides technical support to ensure the cattle breeding quality.

The company can produce more than 10,000 doses of high-quality frozen semen every day and can guide breeding techniques, allowing herdsmen to raise cattle with twice the result but half the effort.

From September 2020 to the present, the company has distributed 160,000 doses of high-quality frozen semen, free of charge, resulting in 62,000 cows being bred and 37,000 calves being born.

Additionally, to reduce the cost of raising cattle, the banner has invested more than 10 million yuan for the introduction of straw comprehensive utilization technology, that can turn corn straw that would typically cause pollution when burning into "sweet pastry".

At present, this technology has made the comprehensive utilization rate of straw there reach 90 percent.

In a bid to further complete the industry chain, the local government has introduced projects from forage, breeding, fattening to processing, logistics, and catering. With the implementation of industrial development promotions, the number of beef cattle in the banner has increased from 166,000 in 2018 to 407,600 now, and the number of beef cattle farmers and cooperatives rose from 15,000 and 200 in 2018 to 30,000 and 400, respectively.

Driven by the beef cattle industry, the per capita disposable income of farmers and herdsmen in the banner increased from 9,700 yuan in 2018 to 10,835 yuan in 2021.

Rio Tinto Ltd said on Friday it would plough ahead with a $3.3 billion bid to buy the 49% of Canada’s Turquoise Hill Resources that it does not already own, after it ended separate talks with dissenting minority shareholders.

The Anglo-Australian miner is seeking to simplify its management of the giant Oyu Tolgoi copper mine in Mongolia that it operates, but shares ownership through Turquoise Hill and the Mongolian government.

Rio needs two-thirds of voting Turquoise Hill shareholders to back its bid, including its own 51% stake, and a simple majority of the rest of the voting shareholders.

It has raised its offer for Turquoise Hill twice to C$43, but that has failed to satisfy Pentwater Capital and SailingStone Capital, two of its biggest minority shareholders, which own stakes of 15.2% and 2.2%, respectively.

Rio had reached an agreement with both that they would abstain from a shareholder vote on the proposal on Nov. 15. Turquoise Hill, investors and the Canadian regulator raised concerns that minority shareholders could be treated differently under the agreement’s conditions.

“This announcement just takes us back to where we were 4-5 weeks ago,” Barrenjoey analyst Glyn Lawcock said, adding that he expected a new shareholder vote before the year ends.

“There isn’t a carve-out for (Pentwater and SailingStone). What that means is that everyone is in the same camp. We don’t know what Pentwater and SailingStone will do, but it will be close.”

Turquoise Hill has twice pushed back the shareholder vote on Rio’s proposal.

Turquoise on Friday acknowledged Rio’s announcement and said it plans to apply to the Supreme Court of Yukon for an amended interim order to set a new date for the special meeting.

Rio Tinto Copper Chief Executive Officer Bold Baatar said, “We have acknowledged feedback received from minority shareholders and returned to the proposal originally unanimously recommended by the Turquoise Hill Special Committee.”

(By Sameer Manekar; Editing by Shailesh Kuber and Rashmi Aich)

Name: Richard Buangan, Title and Term: U.S. Ambassador to Mongolia (2022-Present), Introduce your Birthplace / Hometown

I was born in San Diego. My father was in the Navy, he was assigned there on a tour and met my mother there. San Diego has a number of differences from Ulaanbaatar, particularly the climate. However, there are a lot of similarities between the people; San Diego, like Mongolia, has a generally very friendly population, people are laid back, everyone is always doing something outdoors, there’s a real love of the outdoors. Also, the cities of San Diego and Ulaanbaatar are roughly similar in population size.

Introduce your Parents

As I mentioned, my father was in the U.S. Navy. He grew up in the Philippines but admired the United States, a country he had never visited, and dreamed of joining the Navy. Meanwhile, my mother was an accountant who came to the United States with nothing more than her accounting degree and a small suitcase. I often think of my parent’s story and how its leap of faith personifies what many, including a number of Mongolian immigrants, go through when coming to the United States.

Introduce Your Siblings and Childhood

My childhood was very nomadic. I grew up with my father moving around from place to place in the United States because of his military assignments. While I was born in San Diego, I spent a lot of my childhood in Hawaii and consider that my second childhood home.

I have one sibling, a brother who is only two years younger than me. He actually flew out to Washington, D.C. for my swearing in as Ambassador. We spent a lot of time in the outdoors growing up. In Hawaii, I remember the small Filipino community in Waipahu, we were very tight knit. Neighbors were not shy to treat me like their own child. My family is my bedrock and I would not be where I am today without their love, support, and encouragement.

Ambassador Buangan is putting his hand on the bible, swearing in as the U.S. Ambassador to Mongolia

Hobbies

I have some musical hobbies, like playing the piano and ukulele. However, I’m really passionate about reading and love learning about the culture, language, and history of other countries. I read a lot, especially history books. I’m usually a non-fiction, history reader. Earnest Hemingway, John Steinbeck, they’re probably my favorite authors. I’ll read their books over and over again. Joseph Campbell is another author I love reading, he really examined the structure behind our stories and our heroes. And, of course, I’ve read Jack Weatherford.

In fact, I have two copies of Jack Weatherford’s book, “Genghis Khan and the Making of the Modern World” but only recently realized it. When I learned I was nominated to be U.S. Ambassador to Mongolia, I immediately got a copy of the book only to find out I already had a copy that was given to me as a gift when I visited Mongolia in 2012, when I was the Director of Digital Engagement and traveling with the Assistant Secretary for the Bureau of Global Public Affairs.

Sports

As an adult, being outdoors is still really important to me, so I do like to get out and golf. I was not much of an athlete growing up, but I did play little league baseball. It may have contributed to my love of the Padres, and I am a true fan because San Diego may not have a lot of sports teams, but they do have a baseball team. I’m proud of San Diego as my home town, so I root for my sports teams.

Music

I like classical music and I’m a big fan of Elvis. I also really love opera, particularly Mozart, Wagner, and Verdi’s works. One of my first cultural events here in Mongolia was going to the State Academic Theatre of Opera and Ballet and seeing “Tosca.” My favorite opera is “Tristan und Isolde,” which shares a number of themes with Romeo and Juliet.

For what in your life do you feel most grateful?

My family and friends. As I said, my family is my bedrock and I would not be where I am today without their love, support, and encouragement. Same is true for my friends.

How would you describe the Mongolian people you’ve met so far?

I have been amazed at how friendly, patient, and open the Mongolian people are. I really feel welcome here in Mongolia already.

Professional Life

What does being a diplomat mean to you?

To me, being a diplomat means being able to represent my country in foreign places, to find ways where we can achieve common ground. Successful diplomats learn from other cultures, countries, and societies. We also help America also understand its role in the world.

Ambassador Buangan on the stage

Most memorable/proud moment from your time in the Bureau of East Asian and Pacific Affairs

Since Mongolia is in the Bureau of East Asian and Public Affairs, my most memorable moment in the bureau was arriving here. That first day, coming into the airport, I had never felt so much anticipation.

What are your three main goals / priorities as the U.S. Ambassador in Mongolia?

As U.S. Ambassador to Mongolia, my priorities are building and enhancing our people-to-people, democratic, and economic ties. My colleagues and I will partner with you to keep Mongolia’s democracy strong and your economy resilient. In the last few decades, Mongolia has been a steady partner committed to human rights and rule of law, while fostering a strong and vibrant civil society and free press. I also look forward to strengthening our defense relationship so Mongolia can continue to play a global role in UN peacekeeping, and humanitarian and disaster relief. Our two countries have a close and enduring relationship; a relationship of friendship and partnership, where we stand shoulder-to-shoulder with you to safeguard freedom, prosperity, and bright futures for both our countries.

If you could wake up tomorrow having gained any one quality or ability, what would it be?

To learn Mongolian

What is the greatest accomplishment of your life (so far)?

To be the U.S. Ambassador in Mongolia.

How do you hope to be remembered when you leave Mongolia?

I want Mongolians to think of me, and of Americans in general, as a good person and genuine partner and friend.

Chinese State Councilor and Defense Minister General Wei Fenghe held talks with his Mongolian counterpart Saikhanbayar Gursed via video link on November 19.

Wei said that China and Mongolia are good neighbors, partners and brothers that can stand the test of anything, under the common guidance of the heads of state of the two countries, the construction of a community with a share future for China and Mongolia has made in-depth and substantial progress.

Wei pointed out that the world has entered a new period of turbulences and changes at present, China and Mongolia should strengthen communication, enhance mutual trust, deepen cooperation, support each other in the core interests and major concerns, and push forward the China-Mongolia relationship to a higher level.

He also stressed that the pragmatic cooperation between the two militaries has seen sound development momentum, and the Chinese side hopes that the two militaries can maintain closer strategic communication, expand joint training, deepen border defense cooperation and conduct multilateral interaction, continuously promoting the bilateral military ties and contributing to maintaining common security in the region.

Saikhanbayar said the relations between the two countries and their militaries have presented development momentum at a high level even in the face of COVID-19 pandemic. The Mongolian military thanks the Chinese military for its anti-pandemic support and assistance provided for the Mongolian side, and is willing to work together with the Chinese side to deepen pragmatic cooperation in the areas of personnel training, international peacekeeping, and medical service at military colleges, jointly pushing forward the defense relationship between the two countries.

During the meeting, Wei also briefed Saikhanbayar on related information and important achievements of the 20th CPC National Congress, Saikhanbayar extended his on the successful convening of this event.

FUKUOKA – Sekiwake Hoshoryu racked up another impressive win at the Kyushu Grand Sumo Tournament on Saturday, toppling rank-and-file opponent Wakamotoharu to keep his share of the lead.

The 23-year-old rising star from Mongolia improved to 6-1 with his victory over the No. 4 maegashira on Day 7 at Fukuoka Kokusai Center, where he shares the top of the leaderboard with No. 1 Takayasu, No. 9 Abi and No. 13 Oho.

The State Opera and Ballet Academic Theater (SOBAT) organized the first "Mongolian Grand Prix" ballet competition, announced the winners, and awarded them.

More than 200 ballet dancers aged 6-25 competed in 8 categories.

In the 6-8 age category in the classical solo genre of the first ballet competition, S. Oyukhan won first place, S. Dulguun won second place, P. Maral won third place, and E. Tselmeg took the honorable mention.

9-11 age category:

O. Gegeenee won first place, M. Nomin won second place, S. Anar won third place, and E. Urantugs took the honorable mention.

12-14 age category:

D. Burte-Ujin won first place, D. Burtjin won second place, E. Bayasgalan won third place, and U. Anar took the honorable mention.

15-19 age category:

B. Khulan won first place, E. Egshiglen won second place, A. Bayarjavkhlan won third place, and G. Dulguunnyam took the honorable mention.

16-25 age category in modern genre:

The best participants wereO. Iderbat, U.Munkhjin, and Kh Galtulga.

6-8 age category in classical team genre:

"Esmeralda's friends" team of Silfida Ballet Academy won the first place, "Khatad" team of Selenge aimag "Khatad" studio won the second place, "Light" team of "Dance garden" studio won the third place, "Gladness" team of "Gladness" Studio took the honorable mention.

9-11 age category:

"Viscaria" team of "Gladness" studio won first place, "Esmeralda's friends" team of Silfida Ballet Academy won second place, "Diana action" team of Silfida Ballet Academy won third place, "Dance garden" team of "Dance garden II" Studio took the honorable mention.

12-14 age category:

The winner is "Little swans" of Mongolian State Conservatory, and the runner-up is "The swans" team of Silfida Ballet Academy.

The chief judge of the first ballet competition was the chief ballet master of SOBAT D. Dashlkhagva. Judges are the head of SOBAT O. Ganbaatar, the executive officer of the composition of SOBAT E. Bekhtulga, and the State Honored Actress Kh. Gerelchimeg, classical dance teacher of Mongolian State Conservatory, Kh. Mungunkhulug, Classical dance teacher of Mongolian State Conservatory and State Honored Actress G. Tsolmon, solo dancer of SOBAT B. Saruul, and solo dancer and Honored Cultural Figure M. Od

Partner Air Chiefs and representatives from 18 NATO nations including Mongolia assembled via video teleconference for the 2022 Partner Air Chiefs’ Conference chaired by General James B. Hecker, Commander Allied Air Command.

NATO cooperates with a range of Partner nations and they contribute to several of its core activities, from shaping policy to developing interoperability and managing crises. Partnership programmes also assists in the development of national defence and security institutions and forces.

“Exchanges between Allied Air Command leaders and Partner Air Chiefs during these events gives us the ability to share knowledge and experiences to build solid relationships within the air domain,” said General James Hecker, Commander Allied Air Command.

The core objectives of conference are a look into the outcomes of the Madrid Summit 2022 with a particular focus on its impact for Partner activities within NATO, an update of the Ukrainian crisis with a presentation from Lieutenant General Mykola Oleshchuk, Commander of the Ukraine Air Force, and how it has influenced Allied air activities, and an overview of Allied Air Commands current partnership activities discussing areas that could be increased or open to new Partners in the future.

Mr. Rob Smith, a Senior Intelligence Analyst talked about the changing strategic environment noting NATO faces challenges in multiple directions. While General Shunji Izutsu of the Japan Air Self-Defense Force spoke about NATO cooperation from the Indo-Pacific perspective.

Major General Luis Carlos Cordoba, Commander of the Columbian Air Force, delivered a presentation on the employment and usage of aerospace capabilities for Amazon protection, giving an understanding the role of Columbian Air Force in the protection of the environment in combating the deforestation.

Additional topics included the Space domain and education and training opportunities were discussed among the participants.

NATO

Chinese President Xi Jinping said on Thursday that the Asia-Pacific area was “no one’s backyard,” urging for greater regional cooperation on development and security. Xi’s statement was made in written remarks to the Asia-Pacific Economic Cooperation summit in Thailand and released shortly after he arrived there.

“The Asia-Pacific … should not become an arena for a big power contest,” Xi said, adding that, “No attempt to wage a new cold war will ever be allowed by the power or by our times.”

According to him, any attempt to disrupt or even dismantle the industrial and supply chains formed in the Asia-Pacific over many years will only lead the region’s economic cooperation to a dead end.

“The 21st century is the Asia-Pacific century … We, members of this region, have come a long way in pursuing economic development, and we will surely write an even more brilliant chapter in the years ahead,” Xi stressed.

The Chinese leader put forward a six-point proposal in this regard, namely bolstering the foundation for peaceful development, taking a people-centered development approach, pursuing greater levels of openness, striving for higher-standard connectivity, building stable and unimpeded industrial and supply chains, as well as promoting economic development.

The Asia-Pacific region accounts for around 60% of the world's population and almost 50% of global economic output. One of the fastest-growing parts of the world, it is widely viewed as a hub of global trade.

According to last month’s report by the S&P Global Market Intelligence, Asia-Pacific economies will dominate global growth in the upcoming year. S&P predicted the region will achieve real growth of roughly 3.5% in 2023, while Europe and the US will likely face recession.

The British Association of Trade and Commerce in Mongolia will hold a Royal Gala Dinner on Saturday 26 November 2022 at the Shangri-La Hotel. The evening will include a range of unique and exciting entertainment including an excerpt from Shakespeare, a live string quartet and piano (from a pianist due to play Carnegie Hall next year), dances, a circus display and two race events where guests will have the opportunity to own or bet on a horse. All funds raised will go to support our four named charities. The Veloo Foundation, Misheel Kids Foundation, Christina Nobel Foundation or the Lotus Centre.

The theme of the evening will now be a celebration of the late Queen's life and support for the new reign of King Charles III, who in his former capacity as Prince of Wales, supported several charities and organisations that focus on supporting children and young people.

To purchase your e-tickets for this prestigious event please contact Ariuntuya Tsend at batcmongolia@gmail.com or on 976 99009737.

Yours sincerely

Steve J. Potter

Chairman

British Association of Trade and Commerce in Mongolia