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Delegates discuss Mongolia-Japan trade and investment

By M.ZOLJARGAL

 

The sixth joint consultation between the governments of Mongolia and Japan, as well as private sector officials, on trade, investment and mineral resources took place on May 3. Over 100 delegates including Japan’s Deputy Minister of Economy, Trade and Industry, Isshu Sugawara, were in attendance.

On May 7, the Mongolian Ministry of Economic Development, Ministry of Mining and Ministry of Foreign Affairs spoke about the consultation, reporting that it was led by two major agendas – trade and investment, and mining and mineral sources.

Japanese delegates expressed their interest to regularly purchase quality coal with reasonable prices for a certain fixed term; take part in the exploitation of the Tavan Tolgoi deposit; own a share of the deposit; and establish a joint corporation to increase Mongolia’s coal export.

State Secretary of the Ministry of Mining, R.Jigjid, stated, “Japanese delegates agreed that the Mongolian investment law and legal environment are unstable, and the foreign investment regulatory law interferes with investment in Mongolia from Japan.

“State service for foreign investors is very slow and delayed. High transit transportation expenses via Russia and China are preventing the further development of trade between Mongolia and Japan.”

Certain joint projects are set to be implemented following the consultation. The two countries will study technology to dress coal with sand in a dry method; intensify the construction of an oil processing plant in Darkhan-Uul Province; and conduct research on establishing a semi-coked briquette plant to reduce air pollution in Ulaanbaatar.

 

Short URL: http://ubpost.mongolnews.mn/?p=4187

Posted by on May 14 2013. Filed under Domestic. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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