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There is potential to expand trade with Mongolia

 

The new representative in Bulgaria of the Mongolian National Chamber of Commerce and Industry Ms. Chuluuntsetseg Baldandorj visited BCCI. She was accompanied by Ochir Puntsagdash Ph.D., Minister-Counselor and Battur Sainbayar, Commercial Counselor at the Embassy of Mongolia.
The President of BCCI Tsvetan Simeonov explained that cooperation with the Mongolian National Chamber of Commerce and Industry dates back to 1973. The joint initiatives are aimed at promoting trade relations between companies from the two countries. The two chambers exchange information and discuss issues related to bilateral cooperation, which is of strategic importance to the economy of both countries. 


The guests informed that Mongolian economy has marked a two-digit growth for the second consecutive year – 25%. Mongolia is one of the most resource-rich countries in the world and the region and has reserves of coal, uranium, copper, fluorite, gold, etc. The extractive industry accounts for around 40% of the country’s GDP and 65% of exports. The food industry, tourism (hunting and fishing tourism), construction of infrastructure, and waste treatment were outlined as potential areas for cooperation. Bulgarian experts – engineers and technologists for the mining industry, dairy industry (cheese production), and agriculture – are high on demand. 


During the meeting it was agreed that a business delegation organized by the Mongolian National Chamber of Commerce and Industry will visit our country next year.


………..
According to data of the Ministry of Economy, Energy and Trade in 2010 bilateral trade turnover increased twice as compared to 2009. In the first quarter of 2011 it consisted only of Bulgarian exports (wine, medicines, chocolate and other food products), at the total amount of USD 0.4 million. 

20.12.2011

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