• Home
  • President
    • President KHURELSUKH Ukhnaa
    • President’s Full Powers
  • Office of the President
    • Head of the Office
    • Advisors to the President of Mongolia
  • News
  • Contact us
2025/07/11
  • MN
  • MNG
President of Mongolia
  • Home
  • President
    • President KHURELSUKH Ukhnaa
    • President’s Full Powers
  • Office of the President
    • Head of the Office
    • Advisors to the President of Mongolia
  • News
  • Contact us

OPPORTUNITY OPENS FOR MONGOLIAN COAL TO TRADE AT GLOBAL PRICES

thumbnail viewNewsPhotoviewNewsPhoto
2017/09/06 9:32:32
OPPORTUNITY OPENS FOR MONGOLIAN COAL TO TRADE AT GLOBAL PRICES

On September 6, Mongolia’s President Kh.Battulga addressed the opening of a Mongolia-Russia Business Forum which took place in frames of the Economic Forum Eastern Economic Forum (EEF) in Vladivostok, Russia.

The Forum was attended by some 150 officials, such as, D.Ganbat, Mongolian Minister of Road and Transportation Development, B.Delgermaa, Ambassador Extraordinary and Plenipotentiary of Mongolia to the Russian Federation, Z.Enkhbold, Chief of Staff of the Office of the President; B.Battsetseg, Vice Minister of Foreign Affairs, I.Ye.Levitin, Envoy of the Russian President, S.Donskoy, Russian Minister of Natural Resources and Ecology, I.K.Azizov, Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia, and O.V.Belozyorov, President of Russian Railways JSC.

Beginning his remarks, the President of Mongolia expressed thanks to participants of the Forum which aimed at promoting products and services of Mongolian and Russian producers, exporters and businessmen, and underlined the Forum’s importance for boosting bilateral relations and increasing investment and trade. He pointed out that Mongolia endeavors to seek environmentally-friendly and sustainable development cherish its open political system, embrace responsible governance, create a multi-pillar system for the national economy, and further develop its infrastructure. Mongolia aims to maintain friendly cooperation in all fields with its two eternal neighbors, he added.

The President said that the private sector accounts for over 80 percent of the Mongolian Gross Domestic Product (GDP) and has become the driving force for the nation’s economy.

“The tax rate has stood at the lowest level among Asia-Pacific countries thanks to supporting foreign investors in all economic sectors. For instance, the customs tax stands at 5 percent, VAT–10 percent and income tax for enterprises ranges from 10 to 25 percent” the President said.

“During the 1990s, I had experience and close cooperation with Russian businessmen when I engaged in small businesses during the economic transition period of Mongolia. When I was elected Parliamentarian three times and served as a government member twice, I focused great attention to agriculture and infrastructure. As we know, the Erdenet Mining Corporation was jointly built by our countries. The factory still gives profits to the Mongolian economy thanks to good fundamentals of feasibilities and preparation of staff. Likewise, I want to establish a joint enterprise in Sainshand, Dornogobi, like Erdenet Corporation. My idea is to build the entity and process minerals rather than export them raw” Battulga said.

“Mongolia has almost 70 million head of livestock. We export 10-15 million leather hides a year without VAT. I want herders to have a more fruitful business when the agricultural raw materials are processed,” he said, and then forwarded a proposal for businessmen to boost cooperation in agriculture which it has stagnated for over 20 years.

Talking about his tour to Vostochny port, the President emphasized that he saw an opportunity to sell Mongolian coal in East Asia. The trade of coal transported from Khakas comes from a longer distance than that in Mongolia, he said.

“I and my delegates witnessed a chance to sell our coal at world standard prices. We need infrastructure in order to export our coal overseas. In this regard, we have presented the Russian Minister of Transportation with a proposal to construct a 458 km railway in the route from Tavantolgoi to Sainshand within a project on building a 5,000 km of railways. The Russian Minister positively accepted our proposal” Battulga said. He added that another project on infrastructure has been presented to the neighboring countries.

“According to statistics, the trade turnover between Mongolia and Russia reached USD 705.3 million in first seven months of 2017, an increase of 46.8 percent compared to the same period of the previous year. The size of Mongolian export to Russia was USD 33.4 million, showing an increase of 8.5 percent. The import from Russia was USD 671.9 million indicating an increase of 49.5 percent. Although trade turnover increased, the figures are still not enough for the countries bordering on lands for about 4,000 km” the President said.

The President said he also put forward a proposal to establish a free trade agreement with countries of the Eurasian Economic Union (EEU) in order to maximize trade turnover with Russia and abolish tariffs and non-tariff obstacles.

Mr. Battulga believes that setting-up an economic corridor for Mongolia, Russia and China, will contribute to economic development of the Far East and improve the infrastructure environment. He also underlined the importance of the EEF for Mongolian and Russian producers, exporters and businessmen for promoting their services and products, establishing business ties and settling negotiations.

FEATURED

  • 2025/07/09 6:27:20Their Majesties the Emperor and Empress of Japan Visit General Education School in Ulaanbaatar
  • 2025/07/09 3:26:24His Majesty the Emperor of Japan Visits Mongol Koosen Technology College
  • 2025/07/08 10:21:56Their Majesties the Emperor and Empress of Japan Visit Memorial Complex for Japanese Nationals
  • 2025/07/08 10:17:01President of Mongolia and First Lady Hold Official Meeting with Their Majesties the Emperor and Empress of Japan
  • 2025/07/08 10:09:13Their Majesties the Emperor and Empress of Japan Officially Welcomed
  • 2025/07/07 4:46:58His Majesty the Emperor of Japan Introduced to Gachuurt Water Source Project
  • 2025/07/07 4:28:01His Majesty Emperor Naruhito of Japan Visits Chinggis Khaan National Museum
  • 2025/07/06 4:28:42His Majesty Emperor Naruhito and Her Majesty Empress Masako of Japan Arrive in Mongolia on a State Visit
  • 2025/06/22 1:54:03President of the Republic of Uzbekistan to Pay a State Visit to Mongolia
  • 2025/06/20 10:37:21His Majesty Emperor Naruhito and Her Majesty Queen Masako to Pay State Visit to Mongolia

GALLERY

thumbnail 515872835_755323223698206_7412016362952339814_n
515872835_755323223698206_7412016362952339814_n
2025/07/09 6:27:20Their Majesties the Emperor and Empress of Japan Visit General Education School in Ulaanbaatar
thumbnail 686e1491770f3
686e1491770f3
2025/07/09 3:26:24His Majesty the Emperor of Japan Visits Mongol Koosen Technology College
thumbnail 516556895_1401492031157754_9116450663623651940_n (1)
516556895_1401492031157754_9116450663623651940_n (1)
2025/07/08 10:21:56Their Majesties the Emperor and Empress of Japan Visit Memorial Complex for Japanese Nationals
thumbnail 515153697_1094120232617147_4756120391160394512_n
515153697_1094120232617147_4756120391160394512_n
2025/07/08 10:17:01President of Mongolia and First Lady Hold Official Meeting with Their Majesties the Emperor and Empress of Japan
thumbnail 514677703_748111194372690_1840022060456074353_n
514677703_748111194372690_1840022060456074353_n
2025/07/08 10:09:13Their Majesties the Emperor and Empress of Japan Officially Welcomed
  • Home
  • President KHURELSUKH Ukhnaa
  • President’s full powers
  • Head of the Office
  • Contact us
Copyright © 2018