POSSIBILITIES OF INCREASING MONGOLIAN EXPORT TO THE EU MARKET DISCUSSED

On May 29, Authorities of the Mongolian National Chamber of Commerce and Industry (MNCCI) held a meeting with Ambassadors of the EU member countries to Mongolia, exchanging views on possibilities of developing trade and economic ties.

Mongolia entered to the E.U.Generalized System of Preferences in 2005, and it became eligible to export 7200 types of products tax free to the EU market. However, the country is not fully using its opportunity. Specifically, Mongolia made export of just EUR 74 million to the EU market in 2018 and a few products dominated in the export, including combed cashmere, knitwear, felt, internal organ of livestock, carpet, Mongolian ger, household furniture and semi-finished leather and skin.

While, the EU import reached EUR 313 million and of which 88 percent were equipment and devices. Therefore, government and non-government organizations should collaborate for varying types of export goods as well as satisfying EU quality standards and sanitary requirements, MNCCI President O.Amartuvshin stated during the meeting.  

The Ambassadors expressed to actively work for improving quality of export products of Mongolia, conducting export market research and expanding economic cooperation.

The EU has been implementing projects and programs on diversifying Mongolia’s economy and trade structure, supporting an increase in non-mining sector exports and encouraging small and medium business. For instance, within the EU-TRAM project, industries of organic beauty products, yak and baby camel wool, seabuckthorn oil and skin and leather processing are being developed.

Source:https://www.montsame.mn/en/read/191118