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EuroChamber newsletter
17 March 2023
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French Evening
French Evening
In a very friendly and warm atmosphere packed with fine taste and lingering smell of fine French wines, whiskeys and cognacs, and with one of the finest cheeses in the country, EuroChamber has successfully organized the "Wine, Spirits and Cheese Tasting" event in cooperation with French Mongolian Chamber of Commerce and lliance Française.

This was organized a part of the two-week Francophonie festival to celebrate French language and culture which is celebrated all around the world.

We thank our sponsors APU, World Wine, Naran Foods and Fromagerie MACU for their generous and "tasty" support.

We express our gratitude to the Embassy of France to Mongolia for their support.
EuroChamber's International Trade Working Group Meeting
EuroChamber's International Trade working group held its monthly meeting on March 14. During the meeting, challenges of exporting good to Europe or importing goods from Europe, customs formalities and international trade payments were discussed. Solutions were also suggested to specific problems.

We thank our member GG Groceries LLC for hosting the meeting.
EuroChamber's Wines and Spirits Working Group Meeting
EuroChamber's Wines and Spirits Working Group Meeting
EuroChamber's Wines and Spirits Working Group members met on March 15, 2023.

The Working Group members discussed the implementation of the Law on Controlling Circulation of Alcoholic Beverages and Fighting Against Alcoholism and how to prevent the parallel importation which is a challenges beverage companies globally.
Upcoming events
Working Group meetings
Working Group meetings
27 March. Banking and Finance Working Group meeting
1-day-workshop on "Organisational Dynamics" on April 5, 2023
1-day-workshop on
EuroChamber is pleased to share that our partner chamber German-Mongolian Business Association DMUV is to organise a workshop titled "Organisational Dynamics" on April 5, 2023.

The purpose of the workshop is to introduce participants to a holistic structured thinking process on issues related to organisational design, organisational leadership, and human resource development. The process of holistic structured thinking will assist participants in designing and planning the development of their organisation, help put their existing enterprises on stronger organisational and personnel foundations for growth, and help them to build competitive advantage.

The workshop is fundamentally based on empirical research, which demonstrates how effective organisational design, effective organizational leadership, and effective human resources development can lead to business success. Mongoljin’s approach to organisational development focuses initially on business strategy (what) as the apex of the business issues hierarchy and then moves forward to training in relation to functional disciplines (how), such as organisational design, organisational leadership, and human resources development. We place a high importance on ensuring that our clients’ functional strategies are fully aligned with their overall business strategy and structure.

Further information, including the workshop agenda you can find here.

Registration: click here
Mongolia Updates
The Spring Session of Mongolia’s State Great Khural opened on March 15, 2023
The Spring Session of Mongolia’s State Great Khural  opened on March 15, 2023
The State Great Khural of Mongolia (Parliament) has opened its regular spring session of 2023 on March 15, 2023.

In his opening speech, Speaker of the State Great Khural G.Zandanshatar stressed that the spring session will focus on legal reform against corruption, the detrimental phenomenon that hampers development of the country and wellbeing of people and undermines the rule of law and governance. He mentioned that package of laws to combat corruption will be discussed during the spring session, including Law on Civil Servants' Ethics and Discipline, Law on the Legal Status of Whistleblowers, Lawon the Regulation of Public and Private Interests and Prevention of Conflict of Interest in Public Service, the National Program for Combating Corruption.

Present at the opening session were the President of Mongolia U.Khurelsukh, Prime Minister L.Oyun-Erdene, members of the Cabinet, the Chairman of the Constitutional Court, the Chief Justice of the Supreme Court, the Prosecutor General and other relevant officials, as well as heads of foreign diplomatic services and international organizations.

Source: montsame.mn and parliament.mn
Oyu-Tolgoi copper-gold underground mine starting operations
Oyu-Tolgoi copper-gold underground mine starting operations
The long-awaited Oyu Tolgoi copper-gold underground mine, bearing one of the world's largest copper deposits, was set to begin mining operations on March 13, 2023.
When this underground mine, located in Khanbogd soum, Umnugovi, is fully operational, Mongolia will have the fourth largest high-technology underground mine and become one of the biggest players in the international copper market.

Prime Minister of Mongolia, Luvsannamsrain Oyun-Erdene, joined Rio Tinto Chief Executive Jakob Stausholm 1.3 kilometers underground to celebrate the commencement of underground production from the Oyu Tolgoi copper mine in the Gobi Desert.

Prime Minister of Mongolia Oyun-Erdene said, “I am proud to celebrate this major milestone with our partner Rio Tinto as we look towards Mongolia becoming one of the world’s key copper producers. The start of underground production at Oyu Tolgoi demonstrates our ability to work together with investors in a sustainable manner and become a trusted partner. The next phase of the partnership will enable the continued successful delivery of Mongolia’s ‘New Recovery Policy’ and Vision 2050 economic diversification strategy. Mongolia stands ready to work actively and mutually beneficially with global investors and partners.”

Rio Tinto Chief Executive Jakob Stausholm said, “We would like to thank the Government of Mongolia for their commitment as our partner in achieving this remarkable milestone. We are starting underground production 1.3 kilometres beneath the remote Gobi Desert from an ore body that will be critical for global copper production and Mongolia’s ongoing economic development. The copper produced in this truly world class, high technology mine will help deliver the electrification needed for a net zero future and grow Rio Tinto’s copper business.”

Oyu Tolgoi is expected to produce around 500,000 ton/year of copper on average from 2028 to 2036 from the open pit and underground, enough to produce around 6 million electric vehicles annually, and an average of around 290,000 t over the reserve life of around 30 years.

In addition, a partnership between Rio Tinto and Mongolia, the Oyu Tolgoi open pit and concentrator have been successfully operating for over a decade. Over 80 per cent of Oyu Tolgoi’s total value lies deep underground and the depth of the deepest shaft is 1385 meters. The total workforce of Oyu Tolgoi is currently around 20,000 people, of which 97% are Mongolian. Oyu Tolgoi works with more than 500 national suppliers and has spent around $15 billion in Mongolia since 2010, including $4 billion of taxes, fees and other payments to the state budget, according to the mining company.

Source: montsame.mn and intellinews.com
Foreign Minister B.Battsetseg pays an official visit to the Republic of Türkiye
Foreign Minister B.Battsetseg pays an official visit to the Republic of Türkiye
Foreign Minister B.Battsetseg paid an official visit to the Republic of Türkiye from March 13-14, 2023.

FM B.Battsetseg underscored the importance of expanding cooperation between Mongolia and Türkiye in the framework of Mongolia's long-pursued "third neighbour" policy, as 2024 will mark the 55th anniversary of the establishment of diplomatic relations between the two countries. The countries are committed to elevating the bilateral ties to a "strategic partnership" which Mongolia maintains with its key "third neighbour" partners such as the United States, Japan, India and South Korea.

The two sides have successfully achieved the target which was set 10 years ago to increase the trade turnover between Mongolia and Türkiye to US$100 million and have already reached US$110 million. We have agreed to double the trade turnover to US$200 million in the years to come.

It was also agreed to renew the inter-governmental agreement on "Mutual Support and Protection of Investments" and to establish a memorandum of cooperation on public-private partnership.

The two have effectively solved the challenges faced for transportation and logistics restricting trade and investment, and the airlines of both countries have been able to operate direct flights between Ulaanbaatar and Istanbul every day and direct flights between Ulaanbaatar and Ankara and Ulaanbaatar and Antalya 5 times a week. It was also emphasised by the two side that it is important to strengthen people-to-people, activate business relations, and support tourism.

Source: mfa.gov.mn and gogo.mn
13 services provided by customs are now available electronically
13 services provided by customs are now available electronically
The General Customs Administration introduced a new system www.gaali.com for businesses and individuals in 2021.

With the introduction of this system, more than 30 online services such as customs clearance, settlement, inquiry, description, foreign trade goods statistics, classification of goods, tariff information, and special permits have been provided to individuals and businesses.

As of today, 25,500 individuals and businesses have received these services online.

Source: gogo.mn and customs.gov.mn
Chinese investors promise to invest US$200 million in Mongolia
Chinese investors promise to invest US$200 million in Mongolia
More than 200 investors from China have visited Mongolia to attend the Sustainable Investment Summit organised by the Mongolian Youth Federation from March 16-18, 2022. The Chinese investors have established contacts and partnerships with their Mongolian counterparts engaged in mining, renewable energy, banking, construction and agriculture.

According to the information provided by the organizers, investment deals worth of US$200 million will be concluded as a result of the summit.

Source: gogo.mn
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