The trilateral consultative meeting on the development of the economic rail corridor of Mongolia, Russia and China took place on September 13 in Ulaanbaatar.
Prime Minister J.Erdenebat made opening remarks at the 15th Asia-Europe Business Forum (AEBF15) commenced Wednesday in the State House in Ulaanbaatar.
A tripartite meeting of leaders of Mongolia, China and Russia was held for the third time on June 23 in Tashkent city, Uzbekistan during the 16th Shanghai Cooperation Organization Summit.
Mongolia-Japan Economic Partnership Agreement came into force on June 7, 2016. According to this agreement, the customs tariff has reduced for 5,700 kinds of products made in Mongolia as well as about 9,300 goods made in Japan.
12th Asia-Europe Finance Ministers Meeting (FinMM12) began in Ulaanbaatar on June 9. This two-day event consists of three parts. Every subconference will consider topics of economic issues faced on the regional level. For instance, during the first part of the meeting,
1.Democratic Party (DP) has decided to cancel the candidacy of its members, who own offshore accounts, to the next parliamentary election of 2016.
With its Steppe Road initiative Mongolia has joined the Russia-China joint initiative on liberalization of trade. Mongolia is fully capable of opening a transit line connecting Asia and Europe.
The first investor’s forum of Mongolia, Russia and China, held last Saturday in Altanbulag at the junction point of the Great Tea Road, was the beginning of preparation for the implementation of these initiatives.
At its meeting on May 5, the Monetary Policy Committee (MPC) at the Bank of Mongolia (BoM) took a decision to cut the policy interest rate by 1.5% to fix at 10.5%. This is the second time for this year when the monetary policy interest rate was lowered.
In the first quarter of 2016, fees, taxes and duties paid by OyuTolgoi LLC amounted to 36 million USD or 73.7 billion MNT. Besides that, the company had spent 59 million USD or 120 billion MNT on purchasing domestic products and services, of which 11 million USD or 22.5 billion MNT were spent in Omnogovi (South Gobi) province.
An agreement on granting a loan of 300 million US dollars to Mongolia has been established between the Development Bank of Mongolia and the VTB Bank of Russia.