Minister of Foreign Affairs to establish Trade Information Portal

Mongolia’s Ministry of Foreign Affairs signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC), a member of the World Bank Group, yesterday, to implement the trade facilitation reform and enhance the competitiveness of Mongolia’s agricultural exports. IFC will help the Ministry of Foreign Affairs establish the Mongolia Trade Information Portal, an online repository for all trade-related regulations. The project will also help streamline trade and customs regulations, simplify border inspection practices, as well as enhance private sector capacity to meet export requirements in the next five years. Foreign Minister Tsogtbaatar Damdin remarked, “Trade facilitation is a cornerstone of the government’s trade and economic development agenda. We believe it will greatly assist Mongolia in reaching our goal of increasing Mongolia’s export. The government of Mongolia appreciates the World Bank Group’s support in reducing trade costs, and simplifying trade procedures, which have been a bottleneck for Mongolian businesses.” This project is part of the World Minister of Foreign Affairs to establish Trade Information Portal Bank Group’s holistic approach in Mongolia to support export diversification, especially agrilivestock. The World Bank is assisting exporters by providing export insurance and capacitybuilding grants through its Export Development Program. This IFC project will also work with industry players to help primary agri-producers to meet export standards. Last year, IFC completed a comprehensive report with recommendations MoU on enhancing competitiveness of agricultural export Mongolia claims four medals from Ekatrinburg Grand Slam Within the frames of MoU, IFC will help establish Mongolia Trade Information Portal. Tsogtbaatar Tsend-Ochir defeats Ferdinand Karapetian for the gold in U73kg category. Sales revenue of MSE-listed firms reach MNT1.47 trillion President visits Best Shoes LLC's factory According to Marketinfo, Tavantolgoi LLC earned a total of MNT 427.9 billion in 2017. Shoe makers request legal reform to separate procurement dates of certain agencies. Marketinfo: Sales revenue of 100 MSE-registered President visits domestic shoe manufacturer companies rose by 38.6 percent Tsogtbaatar secures a gold after jumping up two weight categories at Ekatrinburg Grand Slam indust ry sp orts st ock ma rket Oyunbayar.N ZGM on how Mongolia’s agriculture sector can draw foreign direct investment to enter the global value chain.

“A transparent and modern trade facilitation system will enable Mongolian businesses, especially agribusiness, to trade more easily with their foreign partners, improving Mongolia’s overall export competitiveness,” said Tuyen D. Nguyen, IFC Resident Representative for Mongolia. “The World Bank Group will continue to support the Government of Mongolia in its efforts to improve the President of Mongolia Battulga Khaltmaa has visited the shoe factory of Best Shoes LLC to get an au fait with its manufacturing process, capacity, domestic supply and demand, as well as receiving the representatives of shoe manufacturers. Presently, the company is capable of manufacturing 600-700 pair of shoes daily, producing winter, autumn, summer, traditional and work Marketinfo announces that the sales revenue of 100 MSE trade companies increased by 38.6 percent in 2017 according to consolidated estimates of their financial results. Last year, sales revenue of these companies Mongolian athlethes have claimed one gold and three bronze medals from the Ekatrinburg Grand Slam 2018. Paris Grand Slam bronze medalist Tsogtbaatar Tsend-O chir defeated Dusseldorf Grand Slam bronze medalist Ferdinand Karapetian of Armenia by a waza-ari in golden score in the finals, becoming the youngest ever Grand Slam winner for Mongolia. This year, former country’s business environment and diversify exports.” The agriculture sector is central to Mongolia’s economy, with meat and dairy products contributing 61 percent of livestock output and 7 percent of the country’s GD P. This project will be delivered by IFC advisory services through the Macroeconomics, Trade and Investment Global Practice of the World Bank Group.