The Governments of Mongolia and the Republic of Korea are pleased to announce that negotiations for the Mongolia-Korea Economic Partnership Agreement (EPA) are ready to commence. The significant milestone comes after both sides reaffirmed their commitment to deepen economic ties and enhance economic cooperation during the visit of Mr. L.Oyun-Erdene, Prime Minister of Mongolia, to the Republic of Korea in February 2023.  

Ministry of Economy and Development and the Asian Development Bank jointly organized inception workshop meeting to support the participation of Mongolian small and medium-sized enterprises in e-commerce through digital marketplaces and platforms.

The Ministry of Economy and Development has successfully organized a series of discussions on the revision of the draft Law on Investment. Today's discussion is distinguished by the introduction of suggestions submitted by the public over the past two months, as well as suggestions and requests made during a series of meetings and discussions with representatives of investors and professional associations.

The fourth session of the “Development Hour” discussion series was successfully organized with the topic of development economics.

The Ministry of Economy and Development successfully organized the first round of discussions on the revision of the draft Law on Investment, signaling its commitment to improving the country's investment and business environment.

Revision on the Law on Investment was developed within implementing the objectives and measures in improving the investment

In accordance with the Law on Public-Private Partnerships, the two-day consultation workshop, co-hosted by the Ministry of Economy and Development of Mongolia and the USA Commercial Department, on the drafts of Regulation on Full Analysis of the Public-Private Partnerships (PPP) Projects, Methodology for Risk Calculation and Allocation and the Charter of PPP Center, was hosted on April 10-11. Mr. Mark M Moseley, an expert of Commercial Law Development Program of the USA Commercial Department (CLDP), Mrs. Grishma Pradhan, a Senior Attorney Advisor of CLDP, and members of working groups participated in the workshop and discussed the possibility of improving the draft documents in accordance with international best practice and guidelines.

G.Tuvdendorj, Vice Minister of Economy and Development welcomed Mr. Thomas Østrup Møller, Ambassador of Denmark to Mongolia, and other officials. During the meeting, discussions were held on Denmark's experience in green development, the possibility of attracting investment to Mongolia in this field, as well as the possibility of further cooperation between the parties. The Vice Minister also invited the Danish representatives of the private sector and business investors to the "World Export Development Forum" to be organized under the auspices of the President of Mongolia. The two sides expressed their positive expectations on reigniting the bilateral relations after the COVID-19 pandemic.

Vice Minister of Economy and Development G.Tuvdendorj met delegates led by Ms. Lena Izotova, Deputy Minister of Foreign Economic Relations of the Republic of Bashkortostan of the Russian Federation. During the meeting, the parties discussed the possibility of developing mutually beneficial trade and industrial relations between Mongolia and the Republic of Bashkortostan of the Russian Federation and agreed to explore opportunities to export cashmere and leather products from Mongolia and work closely together to expand trade relations.

MED is partnering with GIZ to conduct a survey for the recruitment of a qualified consultant for a short-term assignment (up to 55 working days). The consultant will be responsible for creating a new guidebook on Mongolia for domestic and foreign investors. We are seeking candidates who meet the following profile:

The Ministry of Economy and Development and the Asian Development Bank jointly organized the "Trade in Services and Digital Economy Statistics of Mongolia Training " in Ulaanbaatar on March 20-23, 2023 within the framework of the Central Asian Regional Cooperation (CAREC) program. Deputy Minister of Economy and Development G. Tuvdendorj emphasized in his opening speech of the seminar that trade in services constitutes the largest percentage of the world's GDP and is a rapidly growing sector, and Mongolia's service trade deficit of 1.6 billion USD by 2021 shows the space and importance of developing this sector.

Acting State Secretary of Ministry of Economy and Development B. Dashpurev met Mr. Tapan Mishra, the UN Resident Coordinator in Mongolia. During the meeting, the two parties discussed the Joint Work plan for the United Nations Sustainable Development Cooperation Framework document for 2023-2027, which defines the strategy and framework of cooperation to be implemented by the United Nations in Mongolia in the next five years, and agreed to work closely on its implementation.

Mr. G. Tuvdendorj, Vice Minister of Economy and Development met with Mr. Shinozaki Yusuke, Director of East Asia Division of JICA, Mr. Tanaka Shinichi, Chief Representative of JICA Mongolia Office and other representatives today.

The Ministry of Economy and Development has successfully organized the first session of the "DEVELOPMENT HOUR" open discussion series in order to provide opportunities for officials to learn and develop themselves at their workplaces, and to share their knowledge and experiences.

International Trade Center’s (ITC) flagship annual event, the World Export Development Forum (WEDF) is underway to be organized in Ulaanbaatar on June 27-28, 2023, under the auspices of the President of Mongolia H.E. Mr. Khurelsukh Ukhnaa under the theme of "Diversifying Green Trade: Organic, Digital, Sustainable".  The launch event of WEDF 2023 was held on February 15th, 2023, on the premises of ITC headquarters in Geneva.