Mongolian and Lao Businesses Focus on Cooperation in Transportation, Logistics, Farming, and Renewable Energy Fields

Ulaanbaatar, June 12, 2024 /MONTSAME/. The Mongolia-Laos Roundtable Business Meeting was held at the Mongolian National Chamber of Commerce and Industry on June 11, 2024.

The business meeting was organized by the Ministry of Foreign Affairs of Mongolia and the Mongolian National Chamber of Commerce and Industry and attended by the Lao business delegation headed by the Minister of Industry and Commerce of Laos Malaythong Kommasith, who arrived in Mongolia as part of the State Visit by President of Lao People’s Democratic Republic Thongloun Sisoulith.  

The Lao side comprised officials of the Lao National Chamber of Commerce and Industry and over 30 representatives from 9 companies in the energy, oil, transport, logistics, digitalization, trade, and food manufacturing sectors.

Minister of Industry and Commerce of Laos Malaythong Kommasith expressed delight in visiting Mongolia expressed that Laos is ready to intensify cooperation with Mongolia and called for the business representatives to participate actively. Mr. Malaythong Kommasith introduced Laos’ economic and social situation within the regional framework of Southeast Asia and informed that renewable energy, namely wind, solar, and hydroelectricity sectors are developing rapidly in Laos. Notably, representatives from one of the biggest renewable energy companies in Laos, Électricité du Laos, arrived in Mongolia.

Although Mongolia and Laos have ancient historical ties and many years of traditional friendly cooperation, since the transition to free market economies in 1990, the economic cooperation and trade turnover between the two countries have declined. The two sides have expressed the importance of recovering economic cooperation and increasing trade between Mongolia and Laos. 

 

The Mongolian side comprised the State Secretary of the Ministry of Foreign Affairs of Mongolia Ankhbayar Nyambaatar, President of the Mongolian National Chamber of Commerce and Industry Enkhtuvshin Dashtseren, researchers from the Institute for International Studies of the Mongolian Academy of Sciences, and enterprises such as “Bright Logistics”, “Air Focus Mongolia”, “Orica Mongolia”, “Sankou Marketing”, “Taliin Khishig Trans”, “Central Asian Road”, “Grand Od Arvin”, “Orgil Conditer”, “Ikh Goviin Ilch”, “Nomin Trade” that operate in international shipping brokerage, transport and logistics, renewable energy, mining, food, and wholesale sectors.

 

At the meeting, the two sides mentioned possible cooperation in transportation, logistics, livestock, tourism, medicine, energy, and particularly renewable energy sectors.