🇺🇿🇲🇳On June 24 this year, on the sidelines of the state visit of the President of Mongolia Ukhnaagiin Khurelsukh to Uzbekistan, Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan, took part in the Uzbek-Mongolian business forum held in Tashkent. The event was also attended by ministry heads, agency leaders, industry associations, and over 150 representatives from top-tier companies of both nations.

🟠The forum highlighted several key areas for potential growth in the trade and economic partnership that would be mutually beneficial. These areas spanned various sectors, including mining, agriculture, construction materials, healthcare, pharmaceuticals, food products, and banking sector development.

✍️In 2023, Mongolia’s GDP reached $18.5 billion, with the economy showing a solid growth rate of approximately 7%. The country’s foreign trade turnover hit $24.4 billion. Mongolia’s wealth of natural resources includes gold, silver, iron, coal, copper, molybdenum, tungsten, tin, nickel, zinc, and fluorspar.

🟠Promising initiatives were identified, such as the joint exploration of new rare metal and basalt deposits and the creation of collaborative livestock and agro-clusters aimed at boosting exports.

🟠The event also saw the signing of several bilateral agreements in healthcare, construction materials, automotive, and agriculture sectors.

🟠In the B2B and G2B negotiation sessions, business delegates from both countries succeeded in forging new connections and engaged in discussions about the practical implementation of upcoming joint ventures.