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Events

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

NEWS

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The Largest Cashmere Manufacturer of Mongolia Comes to the USA www.finance.yahoo.com

ULAANBAATAR, Mongolia, July 30, 2019 /PRNewswire/ -- During the Mongolian president's visit to the United States of America, the largest cashmere manufacturer of Mongolia "Gobi Corporation" is preparing to announce its plans to enter the U.S market by September 2019. The subsidiary Gobi Cashmere USA will be located in Los Angeles, USA and is launching an e-commerce website specially dedicated to the U.S customers.

Gobi Corporation currently supplies high-quality raw cashmere products onto the international market however, its presence on the US market has been niche due to the fierce competition from China. As of now, Gobi Corporation has its franchise stores in Chicago, Los Angeles, and San Francisco. If the trade bill is passed, this would allow cashmere companies from the young democratic nation to compete with its competitors.

The increased trade between the United States of America and Mongolia will benefit many stakeholders in the supply chain of cashmere including the consumers, nomads, employees and the economical trade between both countries.

The nomads of Mongolia rely on the sale of their raw cashmere to manufacturers for half of the annual income, which is highly needed for the education of their children and other costs that are incurred during the year. As goats are one of the herds that are valued and herded by the nomads, the raw cashmere that is being provided onto the market will be supplied regardless of the demand by the nomads. Besides, Mongolian traditional nomadic way of coexisting with livestock gives the special feature of differentiation to cashmere sourced from Mongolian land, in terms of traditional heritage, care for the goats and humane way of treatment.

Additionally, Gobi corporation has more than 2800 employees and 80% of them are females. As a part of the company social responsibility, the national giant company Gobi Corporation thrives to be the number one organization that leads others by example by taking good care for the employees well beings, especially for those in need. This is another driver of the company's expansion to the international market, as the production increase will directly affect the employees' standard of living.

Mongolia, a landlocked country sandwiched between Russia and China is utilizing its third neighbor policy to its highest potential by expanding its diplomatic relations with countries around the world.

Diplomatic relations between Mongolia and United States of America formally established on the 27th of January 1987 and it has expanded both in economic and political platforms. On the 26th of July 2018, Representative Ted Yoho and nine other members of the U.S. House of Representatives introduced a trade bill to the U.S. Congress. The trade bill would seek to promote trade between the United States of America and Mongolia by allowing duty-free treatment for certain imports from Mongolia such as cashmere products and textile materials.

In relation to the trade bill, the president of Mongolia Mr. Battulga Khaltmaa is visiting the United States of America on the 31st of July 2019. By the visit, Mongolian president is expressing his full support for the trade bill and appreciation to the sponsors.

The trade act would be helpful to Mongolian economy for various reasons. One of the major examples is the fact that its ability to open more trade opportunities to export cashmere products onto the U.S. Market. Mongolia supplies around 48% of the total raw cashmere to the world market which makes the country the second-largest raw cashmere supplier of the world, yet they utilize only 15% of it to make ready-to-wear finished cashmere garments locally. Remaining 85% of the raw cashmere is sold as a semi-processed material to other markets with less added value, which is becoming the focus area of the Mongolian government and domestic cashmere manufacturers. The United States of America is considered as the second largest cashmere consumer country. This duty-free treatment would open a tremendous opportunity for Mongolia to diversify its economy.

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For a Visit With Trump, Mongolia’s President Is Really Ponying Up www.wsj.com

WASHINGTON—When President Trump meets with Mongolia’s president at the White House on Wednesday, it is the president’s youngest son who could walk—or trot—away a winner.

Mongolia pledged to give the president’s 13-year old son Barron Trump a pony as a gift, a courtesy marking President Khaltmaagiin Battulga’s first meeting with Mr. Trump, according to a senior administration official.

It isn’t clear if Barron Trump will actually receive the pony—Secret Service protocol and ethics rules make gift giving to the first family a tricky business. But he’ll likely get to name it when Mr. Battulga comes to visit, the official said.

The two leaders are scheduled to meet Wednesday as part of the administration’s effort to apply pressure on China and Russia through economic and military assistance to various countries in the region.

Mongolia is landlocked by China and Russia and relies heavily on China for trade. Senior administration officials said 90% of Mongolia’s trade flows through China. The U.S. is hoping to discuss trade alternatives with Mongolia to make it more self-sufficient.

During his visit, Mr. Battulga hopes to discuss possible legislation that would allow Mongolia to ship cashmere to the U.S., duty-free, so it is less reliant on China.

The discussions come as the Trump administration is working to restart its trade talks with China. Mongolia is watching those talks closely given its own relationship with China.

Mr. Battulga is a populist business tycoon and ex-judo champion whose meeting with Mr. Trump follows a recent visit to Mongolia by the American president’s national security adviser, John Bolton. The last time a Mongolian president visited the White House was in June 2011.

Barron Trump’s gifted horse isn’t a first. By tradition, Mongolia presents special dignitaries with a horse. At least two former U.S. defense secretaries, Donald Rumsfeld and Chuck Hagel, were presented with horses as gifts.

Write to Vivian Salama at vivian.salama@wsj.com

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Bent Mongolian Judge flees to US with cash! www.news.mn

Mongolia’s Independent Authority against Anti-Corruption (IAAC) has provided short information about a corruption case involving no less than 17 judges during its regular press conference on 30 June.

According to the IAAC, former judge S.Tumurbat, one of the 17 convicted, has managed to escape with his family to the United States where he applied for asylum. He was detained by US border officers carrying a very substantial sum in US dollars.

On 26 June, President Kh.Battulga issued a decree suspending the judicial powers of 17 judges. That night, S.Tumurbat escaped to Russia through Altanbulag Border Crossing, from where he travelled on to the USA, said the IAAC. Earlier, S.Tumurbat’s father had made a getaway through China.

Evidently, corruption runs in the family: S.Tumurbat’s mother was the deceased judge L.Byambaa who died in custody in Detention Centre No. 461. L.Byambaa had been investigated by the anti-corruption body over Salkhit silver mine for shady financial gain.

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Trump Courts Mongolia During Disputes With Neighbors China, Russia wwww.bloomberg.com

President Donald Trump on Wednesday plans to meet with Battulga Khaltmaa, the president of Mongolia, a land-locked country the U.S. views as strategically important as tensions rise with the nations sandwiching it, China and Russia.

Trump will discuss a free-trade pact with Mongolia, as well as U.S. investment in mineral deposits including rare earths, according to a senior Trump administration official. The elements are important to the American technology industry and now mostly sourced in China.

The official briefed reporters at the White House on Tuesday on the condition of anonymity.

Mongolia is seeking trade routes that don’t involve China and wants help developing cashmere wool, one of its main exports, into finished products so that it doesn’t have to be shipped to China for processing, the official said. About 90 percent of Mongolia’s trade currently passes through China, according to a second official.

Trump seeks out more allies in the region as the U.S. trade dispute with China intensifies. Earlier on Tuesday, the U.S. president lashed out at Beijing for slashing its purchases of American agricultural products. The country continues to “rip off” the U.S., he said, just as negotiators resumed talks in Shanghai following a three-month impasse.

Mongolia may also be important to the U.S. as it confronts Russia. Relations between Washington and Moscow deteriorated after U.S. officials concluded the country interfered in the 2016 presidential elections and haven’t improved despite Trump’s overtures to Russian President Vladimir Putin.

Trump has a warm relationship with Mongolia’s government already; the administration official said that at some point in the past, the country gave the president’s son Barron a horse, which is still in Mongolia. It’s unclear if Barron would be allowed to accept it, the official said.

Mongolia has asked for Barron or someone in the administration to name the pony, the official said, and hinted that the president may do so at his meeting with Battulga.

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China Belt and Road power investments surge from 2014-2019: study www.reuters.com

SHANGHAI (Reuters) - Chinese equity investment in solar, wind and coal power projects in Belt and Road countries has surged from 2014 to 2019, with planned capacity up more than tenfold compared to the previous five-year period, environmental group Greenpeace said.

The Belt and Road initiative is a Beijing-led program to boost economic and trade ties in dozens of countries in Asia, Europe and beyond, mostly through investments in energy and infrastructure.

According to a study published by Greenpeace on Monday, China’s wind and solar power investments in Belt and Road countries amounted to 12.6 gigawatts (GW) since the initiative was launched in 2014. It had invested in just 0.45 GW of solar prior to 2014.

The country has also invested in 67.9 gigawatts of new coal-fired power in Belt and Road countries since 2014, but Greenpeace climate and energy campaigner Liu Junyan said the increase in the share of renewables should be welcomed.

“Chinese investors’ ratio of coal to solar is now the same at home and abroad - both are still six-to-one (in favor of)coal, unfortunately, but I’m amazed to see what five years of equity investment in solar made possible,” Liu said.

China has been building dozens of new renewable energy projects at home to reduce the share of coal in its total energy mix to 59% by the end of last year. It has also been encouraging its existing coal-fired power plants to install ultra-low emissions technology.

But China has been criticized for funding coal-fired power projects overseas that would not meet its own emissions standards, with a study published earlier this year saying it is supporting more than a quarter of all new coal-fired plants worldwide.

China is expected to put another 40 GW of solar power capacity in operation at home this year, energy officials said on Friday.

China’s total coal-fired capacity also expected to rise by another 45 GW this year, with the total eventually expected to peak at around 1,300 GW, up from 1,140 GW at the end of last year, researchers from China’s State Grid said this month.

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Waters claim 60 lives in Mongolia in 2019 www.xinhuanet.com

ULAN BATOR, July 29 (Xinhua) -- A total of 60 people have been killed in 69 water-related accidents across Mongolia since the beginning of 2019, the country's National Emergency Management Agency (NEMA) said Monday.

"Unfortunately, a total of 60 people, including nine children, have been killed in water-related accidents in the country so far this year. Nearly half of them (were) drowned in July alone," the NEMA said in a statement.

July is the peak season for Mongolians to travel across the country.

The water levels in Mongolia's major rivers, including the Tuul, Kharkhiraa, Khovd, Buyant and Selenge, have exceeded the warning levels by 10-105 centimeters due to heavy downpours since mid-July, NEMA said.

Heavy rain is expected to continue over most parts of Mongolia in the coming days, it said, urging citizens to stay away from flooded rivers.

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Trade turnover between Mongolia and Italy reaches over USD 70 million www.montsame.mn

Ulaanbaatar /MONTSAME/ 2020 will mark the 50th anniversary of establishment of diplomatic relations between Mongolia and Italy.

On July 29, 2017, the Embassy of Italy was opened in Ulaanbaatar. As of today, 54 Italian invested companies are operating in Mongolia, making investment of USD 36.8 million. Italy invested mainly in the areas of trade, food industry, processing of animal origin raw materials and textile.

Trade turnover between the two countries reached over USD 70 million, of which USD 43.4 million are export and USD 33.3 million are import.

Since 1990, the Government of Italy has rendered non-refundable aid worth USD 7.2 million to Mongolia. Italian Minister of Economic Development C.Calenda and Member of Parliament A.Undraa are working as chairpersons of Mongolia-Italy Intergovernmental Commission and Mongolia-Italy inter-parliamentary group.

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Mustafa Sentop: Turkey is ready to invest in agriculture and mining of Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ On July 29, Speaker of the Parliament G.Zandanshatar held talks with Speaker of the Grand National Assembly of the Republic of Turkey Mustafa Sentop at the State House.

At the beginning of the talks, Speaker G.Zandanshatar extended gratitude for accepting the invitation, underscoring that the visit takes place in a year marking the 50th anniversary of diplomatic relations between the two countries. He then expressed his willingness to intensify bilateral cooperation in social and economic sectors including tourism and civil aviation.

Offering thanks for the warm welcome, His Excellency Mr. Mustafa Sentop emphasized that the two countries have thousands of years of historical and cultural ties even though the diplomatic relations have a history of 50 years. He voiced his fervent wish to overcome barriers with joint force and elevate bilateral cooperation to the highest level in all sectors, mentioning the two countries have maintained brotherly friendly relations thanks to the heritages our ancestors left behind.

Speaker G.Zandanshatar requested the Turkish side to strengthen trade and economic cooperation and support the sectors of agriculture, light industry, and tourism. The two parties agreed to intensify the implementation of certain projects including the one on the establishment of Orkhon Valley Tourism Complex. They also decided to put initiatives to promote cooperation among the countries that belong to the Ural-Altaic language group.

Stressing that many cooperation projects of the Turkish Cooperation and Coordination Agency (TIKA) have been successfully implemented in Mongolia, Speaker G.Zandanshatar proposed continuing the cooperation.

The Speaker of the Turkish Grand National Assembly showed his interest in developing the bilateral trade and economic ties reaching hundreds of millions of dollars and proposed to make the direct frights of the Turkish Airlines on a daily basis in the near future. He also noted Turkish investors are ready to invest in agriculture, livestock, mining, health care, and energy sectors of Mongolia, exchanging views on introducing Turkish know-how and assisting the two countries’ businesspeople.

Mr. Mustafa Sentop demonstrated his readiness to carry on with the joint scholarship program for Mongolians with the Ministry of Education, Culture, Science and Sports, pointing out the intensive development of partnerships between the universities of the two countries. Further, the Turkish Speaker noted that TIKA has successfully carried out over 600 projects and pledged to continue the organization’s activities.

In the conclusion of the meeting, the sides exchanged information about the FETO terrorist organization. Mr. Mustafa Sentop informed the organization threatens the security of Mongolia and said he will take immediate measures and strive to not spoil the friendly relations between the two countries, showing pleasure that relevant bodies of Mongolia are aware of the issue.

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Turkey, Mongolia look to further enhance relation www.aa.com.tr

Turkey's parliament speaker hailed on Monday the deep-rooted ties with Mongolia, voicing the desire to further develop the existing relations in every field.

Speaking during the inter-committee meetings in Mongolia’s capital of Ulaanbaatar, Mustafa Sentop termed their bilateral ties "excellent".

“We celebrate the 50th anniversary of our diplomatic relations based on friendship ongoing for thousands of years,” Sentop said.

"Our friendship and relations based on this common history and legacy left by our ancestors will overcome every kind of difficulty,” he said later in a joint news conference with his Mongolian counterpart Gombojav Zandanshatar.

“What we need to do is to strengthen relations in every field to the highest level by benefiting from this historic background,” he added.

A parliamentary assembly composed of Turkish-speaking countries and countries which have common roots is on the cards, Sentop said.

Sentop went on to say that the state-run aid group, Turkish Cooperation and Coordination Agency (TIKA) -- which has realized more than 600 projects in Mongolia so far -- would continue its efforts.

Combatting FETO

With regards to the fight against Fetullah Terrorist Organization (FETO), he said: “I’ve gladly seen that we are on the same page [with Mongolia] on FETO.”

“We are dedicated to not to allow FETO, which is a sneaky terror organization, to poison our relations," he noted.

FETO and its U.S.-based leader Fetullah Gulen orchestrated the defeated coup of July 15, 2016, which left 251 people martyred and nearly 2,200 injured.

Ankara also accuses FETO of being behind a long-running campaign to overthrow the state through the infiltration of Turkish institutions, particularly the military, police, and judiciary.

For his part, the Mongolian parliament speaker said that they regard Turkey as the “third neighbor” of Mongolia.

Mongolia wants to boost economic cooperation, particularly in tourism, Zandanshatar said.

He also expressed his dedication to rooting out FETO schools in the country, saying: “We are carrying out every kind of work that we can do, against these schools operating in Mongolia.”

Sentop, later, held a closed-door meeting with Mongolian President Battulga Khaltma at the presidential palace.

*Writing by Nilay Kar Onum

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Talented Mongolian basketball player dies in USA www.news.mn

Sadly, the top player of the Mongolian National Basketball Team, O.Dulguun died at the UCSF Medical Center at the weekend. He had been in a coma after having been infected with the varicella virus.

O.Dulguun was diagnosed with a liver failure and B Hepatitis. He urgently needed a liver transplant costing USD 300,000-350,000. Family members started a campaign; the nationwide response was instant and MNT 150 million in donations flooded in. Sadly, these were not able to save the young Mongolian’s life.

O.Dulguun arrived USA on 12 June in order to watch the NBA finals. He was given tickets for the NBA finals after winning the Mongolian University Basketball Championships with his team the ‘Etugen Leopards’. He was named as a valuable player in the competition in which a total of 40 teams participated.

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