MONGOLIA-KOREA BUSINESS FORUM HELD

Ulaanbaatar/MONTSAME/ During the official visit of Prime Minister U.Khurelsukh to the Republic of Korea, a Mongolia-Korea Business Forum took place on January 16 in Seoul. PM U.Khurelsukh gave remarks at the opening of the business forum. “Businessmen shoulder the heaviest loads of the country’s development. We will strengthen mutual confidence and provide comprehensive and constant support to businessmen.” pointed out the PM. Relevant Ministers and authorities of the National Chambers of Commerce and Industry of the two countries delivered speeches. B.Lkhagvajav, President of Mongolian National Chamber of Commerce and Industry, said that representatives of Mongolian businessmen who make 72 percent of the country’s GDP are contented with expanding their existing ties with S.Korea and some of them are on the start of cooperation. The attendants expressed their interest to cooperate in projects of innovation, regional infrastructure, value-adding production, energy, agriculture and service, alongside traditional cooperation sectors. As of 2017, bilateral trade turnover of the two countries reached USD209 million, with an increase of 1.4 percent. Since 1990, S.Korea has invested USD512 million to Mongolia so far and there are about 2,400 Korean-invested entities in Mongolia, operating in whole and retail sales, catering, mining and immovable property sectors. M. Unurzul