Industry Minister’s European tour continues in the Czech Republic


Ministry of Industry D.Erdenebat conducted a state visit to the Czech Republic on November 22 and 23, where he met with Czech Industry and Trade Minister Jan Mladek.
The sides underlined that the two countries have possibilities for cooperation in the industrial, energy, and infrastructure sectors. A blueprint for an Erdenet Thermal Power Plant expansion project is being drafted with assistance from the Czech Republic, and the country is also carrying out map making training for Mongolian personnel in the mining sector.
Minister Erdenebat said that Mongolia is interested in acquiring equipment from the Czech Republic, and underlined that Mongolian companies need to establish agreements with Czech companies. The Czech Republic said that it is interested in collaborating in mining and the industrial sector, and making investments in Mongolia.
During an intergovernmental meeting, Mongolia and the Czech Republic set a goal to double trade turnover between the two countries.

Trilateral cooperation agreement established

During the Minister’s visit, Mongolian and Czech companies established a trilateral agreement for cooperation. Minister Erdenebat visited Vitkovice Steel’s processing plant and Hutni Projekt Frydek-Mistek LLCs coke production and cast iron processing factory to become acquainted with their activities.
Mongolian-based New Eco Energy LLC, and the Czech Republic’s Hutni Projekt Frydek-Mistek and CKD Energy signed a memorandum of understanding to cooperate in opening a coking coal processing plant with a capacity of 300,000 tons per year. The project will continue for three years, and its estimated expenditure now stands at 160 million EUR, 130 to 150 million EUR of which will be invested by CKD Energy.

Delegates meet with Czech Export Bank authorities

The Minister also met with authorities of Czech Export Bank and presented information on projects being implemented in Mongolia, exchanging views on cooperation.
The bank’s director, Karel Bures, emphasized that there are several projects being carried out in cooperation with Mongolia. He added that he believes these projects will positively influence trade and economic relations between the two countries.
Minister Erdenebat replied that even though only one year has passed since the Mongolian Ministry of Industry  was established, the Parliament of Mongolia has approved a state industrial policy. The document reflects supporting export with a focus on drawing in investments for the heavy and light industries of Mongolia.
He underlined that there is a necessity for introducing techniques and equipment from the Czech Republic. The parties agreed that there are many possibilities for implementing joint projects and cooperating for mutually beneficial endeavors.

Minister meets with EGAP authorities

Minister D.Erdenebat was also received by authorities of the Czech Export Guarantee and Insurance Corporation (EGAP) to advance cooperation.
Beginning the meeting, EGAP’s leadership pointed out that the corporation is providing insurance services for several projects being implemented in Mongolia. Erdenebat said, “Insurance organizations are vital in implementing any project. Recently, production has been intensifying in Mongolia. Particularly, producers have a great interest in purchasing equipment from Europe.”
The sides exchanged views on potential technology projects to be implemented in Mongolia. EGAP has expressed a readiness to support projects in Mongolia’s industrial sector, reported the Ministry of Industry.

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Posted by on Nov 27 2015. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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