Cooperation between Kazakhstan and Mongolia
Diplomats of Kazakhstan and Mongolia discussed the implementation of the roadmap for the next four years which is aimed at boosting trade and economic cooperation between the two states. In order to deepen partnerships, the countries are ready to cooperate in many areas, particularly, in investment. As part of the program there will be discussions on the ways of expanding the investment opportunities in Kazakhstan and ways of entering the Mongolia’s market and doing business here. At the seventh meeting of the intergovernmental commission, the parties considered the possibility of building a joint oil refining plant, taking into account Kazakhstan's experience. Moreover, a memorandum on cooperation in the field of geology and subsoil use has been signed. The joint work in the field of air transportation will soon be established.
MADINA ABILKASYMOVA, KAZAKH MINISTER OF LABOUR AND SOCIAL PROTECTION:
- We raised a very important topic of the need for regular air communication between the capitals of the two states, Ulan Bator and Astana. We will also sign an agreement on cooperation in investigation and prevention of accidents.This will be managed between the relevant state bodies.
Over the past year, the volume of trade turnover between Kazakhstan and Mongolia amounted to nearly US$75 million, of which 95 percent was made up of Kazakh exports. At the end of the meeting, the parties highlighted the need for further development of bilateral trade and economic relations.