Mongolia Business and Mongolian Daily Business News

Pyongyang, September 18 (KCNA) — Yang Hyong Sop, vice-president of the Presidium of the Supreme People’s Assembly, met and had a friendly talk with the delegation of the Ministry of Foreign Affairs of Mongolia headed by State Secretary Tsogtbaatar Damdin at the Mansudae Assembly Hall Thursday.

DPRK Foreign Minister Pak Ui Chun, too, met and had a talk with the delegation on the same day.

SOURCE: KCNA

Foreign Minister Yu Myung-hwan will leave for Russia Tuesday to pave the way for President Lee Myung-bak’s visit to Moscow later this fall.
For the next three days, Yu will meet with Russian Foreign Minister Sergey Lavrov and other officials to discuss Lee’s itinerary.
Yu and Russian officials will also discuss ways to expand bilateral cooperation, including the development of Russia’s Far East and Siberian regions. North Korea’s nuclear issue will also be on his agenda.

On Friday, Yu will head to Mongolia for a two-day visit. He will meet with Mongolian President Nambaryn Enkhbayar and Prime Minister Sanjaa Bayar.
Yu will seek to strengthen cooperation with Mongolia’s new government and ask Mongolia to allow Korean firms to take part in its resource development projects.

SOURCE: KBS

PAVA company is increasing its developing rates for the foreign market. During the first eight months of 2008, PAVA exported 31.600 tonnes of flour on the foreign market, or 83.9% of planned volumes to be exported in 2008, according to the company.

Further, PAVA has contracts with 13 countries including Mongolia, Tajikistan, Afghanistan, Kyrgyzstan, Turkmenistan, Uzbekistan, Somalia, Ethiopia, North Korea, Bangladesh, Thailand and others for continuing exports.

SOURCE: Agrimarket Consulting

CHANGCHUN, Sept. 2 (Xinhua) — Vice Premier Wang Qishan told a forum here on Tuesday that China was willing to strengthen energy, trade and investment cooperation, and push forward regional logistics development with other countries in northeast Asia.

“China will make concerted efforts with other countries in this region to further lower trade barriers and boost investment in infrastructure, high technology, agriculture and modern service industries,” he added.

Top officials from China and other northeast Asian countries said that they would strive for joint regional development at the Second High-Level Forum on Northeast Asia Economic and Trade Cooperation.

The forum is a part of the ongoing Fourth Northeast Asia Investment and Trade Expo held here in the capital of northeastern Jilin Province. Read the rest of this entry »

More than 40,000 business people are expected to gather in the city of Changchun on Tuesday for the latest Northeast Asia Investment and Trade Expo.

Organizers are expecting about 60 senior executives from the world’s top 500 companies, as well as roughly the same number of government officials.

The northeast Asian region covers China, Russia, Japan, Mongolia, the Democratic People’s Republic of Korea and the Republic of Korea. Launched just three years ago, the Expo has served as an important platform for economic cooperation.

As of the end of last year, more than 100 billion US dollars in direct investment from member countries had poured into China while investment in the other direction had hit about 4 billion US dollars.

Editor:Xiong Qu

SOURCE: CCTV International

The 22nd Pyongyang international table tennis tournament opened at the capital of the Democratic People’s Republic of Korea (DPRK) on Thursday.

About 60 players from four countries including Mongolia, DPRK, China and India competed in six events.

“The tournament, beginning from 1981, has played an important role on building up international friendship and popularizing PingPong in the DPRK,” said Ri Yin Ho, an official from the sports commission of the DPRK.

The tournament was due to close on Monday.

Human Rights Watch sends following letter to Mongolian Ministers

August 20, 2008

Minister D. Demberel
Ministry of Social Welfare and Labor
Government Building 2, Negdsen Undesnii Street
Ulan Bator – 210646, Mongolia

Re: North Korean Workers in Mongolia

Dear Minister Demberel:

On July 22, 2008, Daily Business News Mongolia reported that Ulan Bator and Pyongyang have approved a deal allowing North Koreans to work in Mongolia. According to the US Department of State, the agreement, reached in February 2008, permits up to 5,300 North Korean workers to come to Mongolia over the next five years. Read the rest of this entry »

Exhibition fair of the Democratic People’s Republic of Korea opens a fair exhibiting national pharmacy, embroidery arts, shoes and handcraft products in the IT Park. About ten organizations including International Handcraft Company, Ginseng, Kenrein and Mannyong attend the fair, strengthening bilateral collaboration of the two countries and promoting goods and products of the country. Also Ginseng Pharmacy Company, which extracts all its drugs from herbs, provided advices to customers. Well known in the world and in the country for its ginseng products, the company demonstrated ginseng tea, tiger bone spirit infusion, pills extracted from deer antler and anti-drug pills. These products are sold between MNT 4000 and MNT 287’500. The exhibition will be open until 19^th of August.

jamestown.org publishes that,

By John C. K. Daly

Friday, August 8, 2008

During the 20th century, Mongolia’s fate was inextricably bound to that of its giant neighbors Russia and China, but since the collapse of Communism there in 1990, Ulaan Baatar has been cautiously reaching out to the outside world for new security arrangements with nations as diverse as the United States and its Asian neighbors. While Mongolia retains close relations with Russia, the last two decades have seen it adopt a more Asian slant, particularly in its economic relations, as its largest investor is now China, while the largest donors of aid are Japan and South Korea (www.state.gov/r/pa/ei/bgn/2779.htm).

On August 4 the South Korean Defense Ministry announced that South Korea and Mongolia would hold a round of security talks on August 5, their first since the two countries established diplomatic ties in 1991 (Yonhap News Agency, August 4). South Korean and Mongolian defense officials meeting in Ulaan Baatar created a bilateral working group to discuss mutual defense cooperation, ways to regularize working-level defense talks, and how to increase military cooperation between the two countries. South Korean Defense Ministry Northeast Asia bureau official Kwon Young-cheol said, “There have been high-level defense dialogues, such as ministerial talks, between the two countries; but this is the first time they will hold a working-level dialogue, at which the two sides will discuss ways to implement agreements reached at previous talks.” Read the rest of this entry »

On the occasion of 20^th anniversary of former North Korean leader Kim Il Sung’s visit to Mongolia, ambassador S.Khurelbaatar paid a visit to North Korean-Mongolian Friendship Pyongyang Songyo Middle School No.1. KCNA(Korean Central News Agency), official news agency of DPRK, reports that Pak Kyong Il, deputy head of Mongolia-DPRK Friendship Association, held a meeting with ambassador at this school.