Trade turnover between Kazakhstan and Mongolia increased by 86.2%

On May 31, 2022, the First Vice-Minister of Trade and Integration of the Republic of Kazakhstan Yerlan Battakov met with the Deputy Minister of Foreign Affairs of Mongolia Batsumbariin Munhzhin.
The agenda of the meeting was informative, rich in nature, the range of all possible issues for the development of business and scientific ties was discussed.
First of all, there was a significant increase in trade turnover between Kazakhstan and Mongolia – for 3 months of 2022, it increased by 86.2% and amounted to $19.7 million.
At the same time, the supply of Kazakhstani goods also increased by 94.2%, amounting to $19.6 million.
According to Yerlan Battakov, Kazakhstan is ready to expand the range of goods supplied to Mongolia from 80 commodity items by $255.4 million (products of the petrochemical, food, light, construction industries, metallurgy, mechanical engineering, pharmaceuticals).
Representatives of the Ministry of Foreign Affairs of Mongolia were interested in export financing instruments of KazakhExport JSC.
The parties discussed the upcoming regular meeting of the Kazakh-Mongolian Intergovernmental Commission on trade, economic, scientific, technical and cultural cooperation in September this year.
As well as the creation of the Kazakh-Mongolian Business Council and the introduction of a number of issues in the draft Roadmap to enhance trade and economic cooperation between Kazakhstan and Mongolia for 2022-2024.
So, for example, the importance of expanding the options for cooperation on mutual recognition of standards between countries was noted in the conversation. Recall that in 2021, Kazstandart and the Mongolian Agency for Standardization and Metrology (MASM) exchanged standards.
E.Battakov and B.Munkhzhin considered other topics of mutual interest and the need for support (meat animal husbandry. passing cars at the border, food security).