AmCham Mongolia Daily Newswire

September 12, 2018

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President receives Japan and South Korea's prime ministers
On September 11, President Kh. Battulga held talks with Prime Minister of Japan Shinzo Abe and Prime Minister of the Republic of Korea Lee Nak-yeon, on the sidelines of Eastern Economic Forum in Vladivostok. During the meeting with Prime Minister Lee, the president noted the upcoming 30th anniversary of the establishment of diplomatic relations between the two countries and expressed an interest in taking bilateral relations to the next level. The sides discussed forming a council to support young business owners. At the meeting with Prime Minister Abe, President Kh. Battulga stated that Mongolia is interested in supplying energy to the Asia Super Grid system. Prime Minister Abe expressed support for the proposal and emphasized the importance of commissioning the New Ulaanbaatar International Airport.

The National Post /page 2/
Mongolia-Kazakhstan business meeting to be held in October
Economic and commercial cooperation between Mongolia and Kazakhstan has expanded considerably over the last several years. In 2017, trade turnover between the two countries saw a year-over-year increase of 22 percent, reaching 36.6 million USD, with Mongolia’s export valued at 2.4 million USD and Kazakhstan’s export at 34.2 million USD. A Mongolia-Kazakhstan business meeting will be held in Ulaanbaatar from October 4 through 5. More than 10 entities from Kazakhstan are expected to take part in the meeting. A total of 34 entities from Kazakhstan operate businesses in Mongolia with investment valued at 18 million USD.

Today /page B1/
Khuvsgul Altanduulga raises target capital from its seasoned equity offering   
The Mongolian Stock Exchange reported that the seasoned equity offering of Khuvsgul Altanduulga JSC, a tier-2 company, has been successfully completed. The agricultural company issued 4.4 million additional shares, approximately 28 percent of all stocks, and raised 3.74 billion MNT from investors. A total of 100 individuals and entities placed orders for the 4.4 million shares.
The Official Gazette /page 12/
Foreign Ministry reports that policy regulations can drive up foreign trade costs
The Ministry of Foreign Affairs reported that international trade policy and non-tariff barriers are a major driver in pushing up foreign trade costs. According to a report from the ministry, policy regulations account for almost 60 percent of the total cost of foreign trade, followed by geographical location (30 percent), and tariffs (10 percent). In 2016, Mongolia joined the World Trade Organization’s Trade Facilitation Agreement, with implementation of the agreement currently standing at 23.5 percent.   
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