June 28, 2018

Cabinet approves Inter-governmental Transport Agreement with Russia


During its regular session on June 27, the Cabinet approved an Inter-Governmental Transport Agreement clarifying the trans-continental trade conditions between Mongolia and the Russian Federation. According to the agreement, Mongolia will receive a discounted tariff for exports to third markets transported through Russia over the next 25 years. The agreement stipulates that Mongolia will benefit from a 66.4 percent deduction from entry customs duty, as well as a 52 percent tax reduction for cargo transportation.

Keywords: transport, export, Russia, third market   The Official Gazette /page 2/

Grey water purification project planned for Gobi Region


On June 27, Cabinet announced their decision to implement “Songino Gobi Water Supply Project” under a design development-construction-utilization-transfer concession agreement. The project’s purpose is to purify grey water from the Wastewater Treatment Plant in line with standards, and supply 200,000 cubic meters of water for the Gobi region’s industrial use, as well as 50,000 cubic meters for use in power plants. Officials hope that the project will bring benefits to the Gobi region, specifically to prevent groundwater scarcity, save water reserves, re-use water for industrial usage, and improve the living environment for residents by building artificial lakes and ponds.​

Keywords: grey water, Gobi, eco-development     The National Post /page 2/

Deputy Prime Minister meets Prime Minister of the Republic of Korea


Deputy Prime Minister, U. Enkhtuvshin, attended the “Reengineering Peace for Asia” Conference, the 13th Jeju Forum, a multilateral platform for experts and professionals to exchange views about East Asia’s collaboration and security matters. During his opening speech at the Forum, the Deputy Prime Minister noted, “Our country is aiming to further strengthen comprehensive bilateral cooperation with the Republic of Korea. There are potential bilateral cooperation opportunities, especially, in the renewable energy sector.” As part of the state visit, Deputy Prime Minister, U. Enkhtuvshin, met with the Prime Minister of the Republic of Korea, Lee Nak-Yeon, and gave his thanks for their cooperation during Prime Minister U.Khurelsukh’s visit, and confirmed the implementation of projects has been going well as planned. 

Keywords: state visits, bilateral relations, Republic of Korea​   Today /page A2/

online story  

IMF to provide 4th-stage financing under EFF program for Mongolia


The International Monetary Fund (IMF)’s Board of Directors approved a directive to provide fourth-stage financing, valued at 36.9 million USD, under the Extended Fund Facility program for Mongolia. This will bring the financing to a total of 184.5 million USD since the launch of the EFF program. The Board of Directors conceded that the main objectives of the program have been achieved over the year. However, it was emphasized that there have been delays in the implementation of structural changes, including fiscal policy tightening and banking sector reforms. The Deputy Managing Director of the IMF, Tao Zhang, highlighted that “the EFF program’s objectives have been accomplished in terms of hard metrics. But Mongolia is still susceptible to external and internal sudden factors.”  ​  ​

Keywords: IMF, EFF, Cabinet, Ministry of Finance

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