June 15, 2018
S P O N S O R 

International delegates discuss Northeast Asian security


From June 14 through 15, the 5th international Ulaanbaatar Dialogue is being held under the auspices of the President of Mongolia. Over 150 experts and officials from the United States, the People’s Republic of China, India, the Republic of Korea, the Democratic People’s Republic of Korea, France, the Russian Federation, Japan, the United Nations, International Red Cross, and the European Union are participating in the conference to discuss regional security issues. Mongolian Minister of Foreign Affairs D. Tsogtbaatar stated, “When the six-party talks ended, the Ulaanbaatar Dialogue was initiated in 2014. This is a diplomatic means to contribute to regional security.” Head of the Korean and Mongolian Studies Department of the Russian Academy of Sciences Dr. Alexander Vorontsov noted, “The 5th Ulaanbaatar Dialogue is of great importance as it is being organized just after the U.S.-North Korea Summit in Singapore.”​

Keywords: MoFA, Korean peninsula, Ulaanbaatar Dialogue   The National Post /page 2/

MNCCI and Ministry of Foreign Affairs host event to help expand exports to the EU


On June 14, the Ministry of Foreign Affairs, in collaboration with the Mongolian National Chamber of Commerce and Industry (MNCCI) and the Trade Related Assistance for Mongolia (TRAM) project, held a one-day event to introduce entities exporting goods to the European market and to provide information to companies and individuals interested in exporting their products to the European Union (EU). During the event, participants exchanged views on ways to increase exports to EU countries and the EU’s standards. Mongolia’s exports to the EU make up about 11 percent of the nation's total export volume, but the variety of export goods is quite limited. Ch. Tsetsegmaa from the Foreign Relations, Trade and Investment Department of the MNCCI said, “There are several challenges in exporting goods to the EU. The priority should be to provide products and goods that meet buyers’ standards. We have been collaborating with Mongolian Agency for Standardization and Metrology and other organizations to create a legal framework to open a laboratory for quality assurance. ​

Keywords: EBRD, Cabinet, waste management   Today /page B1/


Petro Matad conducts closed trading on the LSE


London Stock Exchange listed Petro Matad has offered shares to a limited number of investors. The company plans to raise 18.3 million USD in capital from its closed offering to finance drilling in 2019. Petro Matad reports that with the capital acquired, the company will be able to conduct drilling at six targets in the next 12 months. The total reserves of these six targets is estimated to amount to 850 million barrels of crude oil. After the announcement of the share offering, Petro Matad stock prices rose by 0.4 percent, reaching 12.85 GBX.​

Keywords: petroleum, London Stock Exchange   The Official Gazette /page 12/

online story  

XacBank introduces AI to its operations  


XacBank announced that it has introduced artificial intelligence (AI) technology to its risk management, consumer loan, and monitoring management systems. The bank will utilize machine learning technology to remodel and forecast customer sentiments, attitudes, and actions, in order to avoid potential risks and ensure monitoring norms. XacBank started the AI project five years ago by accumulating and analyzing customer data. Chief Risk Officer of XacBank Torsten Buening noted, “Machine learning will not only improve the bank’s risk management system, but also enhance customers’ risk-bearing capacity.”

Keywords: banking sector, artificial intelligence

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia