“During a business mission in Ulaanbaatar, Kazakh companies signed export contracts worth $62.6 million with Mongolian partners, indicating a further deepening of trade relations between the two countries,” reports MiddleAsianNews.
The Kazakh delegation was represented by First Deputy Minister of Trade and Integration Aizhan Bizhanova, who noted that Mongolia is an important direction for Kazakhstan's non-resource exports.
“We see prospects for expanding non-resource exports in Mongolia. The high level of finished product supplies and the interest of businesses confirm that we are not working with an experimental market, but with a stable and developing trade direction,” said Bizhanova.
Trade between Kazakhstan and Mongolia is expected to triple by 2025, with more than 90% of exports consisting of finished non-resource products, including food and industrial goods.
Kazakhstan is also becoming an important transit hub, which is expected to deepen cooperation. The country offers Mongolia alternative routes for exports, allowing for shorter delivery times and increased access to the markets of the EAEU, the Caucasus, Turkey, and the European Union.
The business mission took place ahead of the anticipated visit of Mongolian President Khurelsukh Ukhna to Kazakhstan, adding political significance to the agreements reached.
