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EuroChamber newsletter
16 June 2023
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Upcoming events
19 June. "Sustainability and Energy" Working Group Meeting
23 June. "Wines and Spirits" Working Group Meeting (TBC)
26 June. "Banking and Finance" Working Group Meeting (TBC)
We are pleased welcome Nito LLC as our new SME member.
EuroChamber's update
TVET Education: Addressing skilled labor shortages in the mining sector
TVET Education: Addressing skilled labor shortages in the mining sector
TVET Education event was jointly organized by EuroChamber Mongolia and Deutsch-Mongolischer Unternehmensverband in cooperation with Transwest Mongolia to address the shortage of skilled workforce in the mining sector. The presenters were: the Vocational Education Division, MOES, Stiftung Handwerk stiftet Zukunft and SMS LLC.

The purpose of our event is to delve into the topic of "TVET Education: Addressing skilled labor shortages in the mining sector." This discussion aims to explore the challenges and potential solutions regarding the shortage of skilled workers in the mining industry, with a particular focus on Technical and Vocational Education and Training (TVET) programs. By addressing this issue, we aim to foster a better understanding of the skills gap and identify strategies to bridge it in order to meet the workforce demands of the mining sector effectively.

We thank Transwest Mongolia LLC for being our Platinum sponsor!
Invitation to attend the Sustainable Finance Week 2023: Global Green Finance Leadership Programme between June 14-15th
Invitation to attend the Sustainable Finance Week 2023: Global Green Finance Leadership Programme between June 14-15th
The World Export Development Forum (WEDF) is the annual flagship event of the International Trade Centre (ITC). This year's event, hosted by the Government of Mongolia, marks the 20th edition of WEDF. The conference gathers participants from around the world to talk trade, do business and drive development. It is a unique opportunity to bring together the voice of small business, women, young entrepreneurs, policymakers and international organizations.

This year’s conference explores trade-led solutions to challenges caused by conflict, climate, COVID and rising costs. The theme, `Diversify with Green Trade`, explores organic, digital and sustainable solutions to multiple crises. WEDF is a global conference, bringing insights and good practices from the across globe. This year’s event reaches out especially to Asia-Pacific countries as well as landlocked developing countries.

Conference Highlights:
  • Conference Debates on Trade Diversification and Green Export Opportunities (27-28 June)
  • Private Sector Consultations: Landlocked Developing Countries
  • Young Social Entrepreneurs Competition
  • Mongolia SheTrades Hub Launch
  • Business Export Clinics
  • Training on Quality Management and Market Linkages
Starts 26 Jun 2023, 09:00
Ends 29 Jun 2023, 18:00

Location: In-Person, Shangri-La Ulaanbaatar, Ulan Bator(Ulaanbaatar), Mongolia
19, Olympic Street 1, Ulaanbaatar 14241, Mongolia

Registration is available here.
Invest Darkhan- Sustainable and Green Finance Forum 2023
Invest Darkhan- Sustainable and Green Finance Forum 2023
EuroChamber is pleased to share an invitation to the "Invest Darkhan- Sustainable and Green Finance Forum 2023" organized by Friendship Project Co-Funded by European Union in Darkhan-Uul Province, which will be held in Darkhan-Uul Province, Mongolia from June 29th to July 1st, 2023
The main aim of this forum is to discuss and exchange ideas on prioritizing resilience, sustainability, and climate challenges cities confront toward climate-safe and just transition the enabling environment and feasibility of operationalizing the capacity to access sustainable and green finance for resilience, mitigation, and just transition in Darkhan-Uul Province. This event will initiate and formalize the discussion on the Localisation of SDGs, SDG Financing, and Localisation of Nationally Determined Contributions (L-NDCs) within the framework of Leaving No One Behind (LNOB).
The forum will provide Darkhan-Uul Province and Cities an opportunity for knowledge sharing, peer-peer exchange, best practice learning, and cooperation on sustainable and green finance through policy and project cooperation among EU, Darkhan-Uul, and regional stakeholders.
For more information, please email the Friendship Project at idef@friendship.mn or contact us by phone at /+976/ 70373737
To register for the event, please click here.
We look forward to your presence in Darkhan City.
Mongolia Updates
Export of Goods and Raw Materials Increased by 54.5 Percent
Export of Goods and Raw Materials Increased by 54.5 Percent
In the first five months of this year, our country exported goods and raw materials worth USD 6305.8 million, making an increase of 54.4 percent compared to the same period of the last year.

In the total export, mineral products accounted for USD 5492.4 million or 87.1 percent, precious and semi-precious stones, precious metals, jewelry, and coins amounted USD 297.2 million or 4.7 percent, plant products – USD 127.6 million or two percent, altogether making up 93.8 percent of total exports.

During the first five months of the year, 100 percent of lead ore and concentrate, iron ore, zinc concentrate, and crude oil, 99.9 percent of copper concentrate, and 98.5 percent of coal were exported to China, 47.3 percent of processed bovine and equine hides, and 76.1 percent of combed cashmere were exported to Italy, and 99.9 percent of washed cashmere was exported to China. The Customs General Administration reported that the above-mentioned goods accounted for 81.1 percent of the total export.

Source: montsame.mn
Mongolia-Netherlands Fifth Political Consultation
Mongolia-Netherlands Fifth Political Consultation
The Fifth Political Consultation between the Ministry of Foreign Affairs of Mongolia and the Ministry of Foreign Affairs of the Kingdom of the Netherlands was held on June 14, 2023, in Ulaanbaatar.

The consultation meeting was chaired by Director of the Department of Europe G. Battungalag from the Mongolian side, and Director of Asia and the Pacific Karin Mössenlechner from the Dutch side.

At the consultation meeting, the parties exchanged opinions in detail on expanding relations and cooperation between Mongolia and the Netherlands in the areas of mutual interest, enriching relations with economic content, and creating a legal environment aimed at stimulating interactions between citizens. For example, it was agreed to establish an intergovernmental agreement aimed at exempting holders of diplomatic and official passports from visa requirements and to intensify cooperation in the fields of tourism and agriculture.

The Dutch side was informed of the major goals of Mongolia's long-term and medium-term "New Revival Policy," and the parties confirmed the desire to seek opportunities for cooperation in the implementation of the goals, and trigger the exchange of experience.

In addition, they discussed pressing issues in international relations and common goals and agreed on strengthening bilateral cooperation within the framework of the United Nations and other international organizations.

Source: montsame.mn
Mongolia’s Stance and Progress on Green Finance Presented
Mongolia’s Stance and Progress on Green Finance Presented
The “Green Finance-International Forum,” which is being co-organized by the Office of the President of Mongolia, the Mongolian Sustainable Finance Association, the Institute of Finance and Sustainability of China, International Finance Cooperation, Sustainable Banking, and Finance Network, and the Trade and Development Bank of Mongolia, is continuing on the second day in Ulaanbaatar.

In his opening remarks at the Forum, President of Mongolia Khurelsukh Ukhnaa highlighted, “In the future, it is essential for Mongolia to fully define comprehensive green development policy, improve the legal environment, ensure coordination and cooperation of stakeholders, and create a green business environment. It is pre-estimated that $11.5 billion is needed for Mongolia to reach targets in its Nationally determined contribution. In terms of our efforts for mobilizing this funding, Mongolia has decided to annually spend up to 1 percent of our GDP to combat climate change and desertification.”

Deputy Minister of Economy and Development G. Tuvdendorj highlighted the importance of keeping up with the global transition from the traditional economy to the green economy. “Even though today we are talking about the digital economy, in the end, we will come to realize that actually all types of economic growths are rooted in the green economy,” he continued. He is currently leading the Working Group to establish the Mongolia Environmental Trust fund. If the fund can be established according to international standards, it will be possible to raise about 700 million USD in the near future.
China’s green finance market is well poised for rapid growth – supported by the steady development of its green finance system, government policies, and other initiatives. According to President of the Institute of Finance and Sustainability and Chairman of the Green Finance Committee of China Ma Jun, RMB 25 trillion of green loans are issued annually in China. “We believe that there are opportunities to cooperate with Mongolia in the field of green financing and renewable energy in the framework of mutually beneficial projects and programs,” he proposed.

Source: montsame.mn
Onon Balj Biosphere Reserve Joins UNESCO Global Network
Onon Balj Biosphere Reserve Joins UNESCO Global Network
Onon-Balj Biosphere Reserve of Mongolia has been registered to the global network of UNESCO Biosphere Reserves. UNESCO’s Man and the Biosphere (MAB) Programme has approved the designation of 10 new biosphere reserves in 9 countries, and one transboundary biosphere reserve across 2 countries during the 35th meeting of the International Coordinating Council of the Programme on June 14.
With these 11 new designations, the World Network now totals 748 sites in 134 countries, including 23 transboundary sites.

Onon-Balj Biosphere Reserve is situated at the southern edge of the Siberian and boreal coniferous forest, which encompasses the Daurian steppe and the Onon and Balj River basin. Major ecosystem types here include forest, grassland, and freshwater, characterized by the vertical landscapes that transition from the Khentii mountain range to taiga/boreal coniferous forest, then to steppe.

The biosphere reserve is not only a hotspot for wetlands and water birds, but it also abounds in culturally important areas including historical sites related to Chinggis Khaan (c. 1162–1227) who founded the Mongol Empire. Part of the biosphere reserve is managed as traditional common land and used for livestock herding by local communities, which also make use of the area for haymaking, vegetable growing, and the collection of non-timber forest products for household use. The biosphere reserve attracts a lot of cultural tourism, while environmentally friendly and community-based ecotourism is also a growing industry.

Situated in the Bayan-Uul of Dornod aimag, as well as the Dadal, Bayan-Adraga, Norovlin, and Binder soums of Khentii aimag, the Onon-Balj Biosphere Reserve presents an ideal environment for safeguarding and sustainably utilizing the Onon River, its reservoir, forest ecosystems, landscape ecological formations, and diverse biological resources.

By securing its position within the UNESCO Global Network of Biosphere Reserves, the area's international importance is amplified, leading to enhanced preservation and protection efforts. Additionally, Khuvsgul Lake Natural Park and the Uvs Lake depression, in conjunction with the Russian Federation, were registered as UNESCO World Network of Biosphere Reserves in 2022 and 2021, respectively, with the latter designated as a Transboundary Biosphere Reserve.

Source: montsame.mn
V. Enkhbaatar has been appointed as the head of the Investment and Trade Agency
V. Enkhbaatar has been appointed as the head of the Investment and Trade Agency
During the regular session of the Cabinet, 23 issues were discussed and resolved. As part of the cabinet's decisions, V. Enkhbaatar has been appointed as the head of the Investment and Trade Agency. The re-establishment of this agency aims to improve the legal environment for foreign investment and falls under the jurisdiction of the Ministry of Economy and Development.

V. Enkhbaatar brings a wealth of experience and expertise to his new role. He holds an economics and international trade degree from the Mongolian University of Science and Technology, the National University of Mongolia, and the University of London.

Throughout his career, V. Enkhbaatar has held various positions and worked on notable projects. He served as an officer at the Ministry of Industry and Trade from 2002 to 2004, a European Union project coordinator from 2004 to 2006, and again as an officer at the Ministry of Industry and Trade in 2007. He also worked at Mongolia Daatgal JSC from 2007 to 2009, where he gained valuable experience in the industry. As the coordinator of the United Nations Development Program micro-insurance project from 2009 to 2011, he contributed to important initiatives. From 2011 to 2012, he worked at "Soyombo Insurance," further expanding his expertise. Most recently, from 2016 until now, he held the position of the head of the Department of Foreign Relations and Cooperation at the Financial Regulatory Commission.

His appointment reflects the government's commitment to creating a favorable investment environment and promoting foreign investment in Mongolia.

Source: gogo.mn
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