The Mongolia-Uzbekistan Business Forum saw participation from over 40 Mongolian companies in key sectors such as meat and meat products, finance and construction. More than 100 companies from both countries attended business-to-business (B2B) meetings, where executives from Mongolia’s leather, food, meat processing and financial industries engaged in face-to-face discussions with Uzbek entrepreneurs.
Mongolian companies are already making strides in the Uzbek market, with Mongol Basalt constructing a factory in Tashkent, Nura opening its main branch in Uzbekistan, and Voyage Water Plant launching its products in the local market. These initiatives signal a growing business presence of Mongolian firms in Uzbekistan, enhancing trade and industrial cooperation.
Trade turnover between the two countries currently stands at 10 million USD. In 2023, Mongolia exported 4.6 million USD worth of goods, including leather, sheep and goat meat and offal, while Uzbekistan’s 5.4 million USD exports consisted of fruits, food products, refrigerators and trucks.
As part of ongoing bilateral efforts, the first inter-governmental commission has agreed to establish trade and economic representative offices in Ulaanbaatar and Tashkent under their respective State Customs Committees, aiming to facilitate smoother trade operations.
Coinciding with the forum, Deputy Prime Minister S.Amarsaikhan led a Mongolian business delegation to Uzbekistan’s Technopark, a vast industrial hub consisting of seven blocks and 12 factories, employing over 5,500 people. The visit, organized by the Mongolian National Chamber of Commerce and Industry (MNCCI), included representatives from 50 Mongolian companies, further strengthening business ties and exploring investment opportunities in technology and industrial sectors.
Opening the forum, Deputy Prime Minister S.Amarsaikhan emphasized the country’s commitment to improving its business environment. “Mongolia is implementing policies and measures aimed at enhancing investment opportunities and fostering stronger business partnerships. We encourage business leaders from both countries to establish connections and explore investment avenues,” he stated.
The forum, co-organized by the MNCCI and its Uzbek counterpart, highlights efforts to increase trade, expand economic cooperation, and create new business opportunities. MNCCI President L.Tur-Od underscored the importance of the event, stating that the business forum and the inaugural Mongolia-Uzbekistan Business Council mee
