AKIPRESS.COM - Representatives of the public and private sectors of the economy of Uzbekistan visited the National Chamber of Commerce and Industry of Mongolia and discussed issues of bilateral economic cooperation on June 18, Montsame reports with reference to the the National Chamber of Commerce and Industry of Mongolia.

The delegation of Uzbekistan was led by Minister of Mining and Geology of Uzbekistan B.F. Islamov.

President of the National Chamber of Commerce and Industry of Mongolia (NCCI) Enkhtuvshin Dashtseren provided information on the state of the economy and business sector of Mongolia.

The President noted that Mongolia's economic growth was 7% during the COVID-19 pandemic despite the slowdown in global economic growth, which was high among Asian countries.

"Today, economic growth in our country is still high, with per capita GDP reaching $5,800. One of the main pillars of the Mongolian economy is the mining industry. Despite the significant impact of exports from this sector, the government of Mongolia has pursued policies aimed at strengthening non-mining exports. There are huge resources and opportunities in sectors such as agriculture, energy, infrastructure and green development," Enkhtuvshin Dashtseren emphasized.

Enkhtuvshin Dashtseren also noted that due to the abundance of renewable energy sources, investments in solar and wind energy could become an important part of economic and business relations between Mongolia and Uzbekistan.

In turn, Minister of Mining and Geology of Uzbekistan B.F. Islamov said that important issues of cooperation between the governments of the two countries were raised at the meeting held at the Ministry of Mining and Heavy Industry of Mongolia.

"Mining requires large investments in the long term. The price of copper on the world market is rising, but demand is still high. However, copper processing does not fully satisfy this demand. Uzbekistan sees this as a profitable opportunity for cooperation between the two countries," B.F. Islamov said and asked the National Chamber of Commerce and Industry of Mongolia to act as a mediator between the private sectors of the two countries.

The Uzbek side also noted the possibilities of cooperation in the trade of meat and meat products, as well as animal feed. Representatives of the National Chamber of Commerce and Industry explained that quarantine is a serious problem for Mongolia, and that it is necessary to have a common understanding of documents and pay attention to the localization of standards to increase the export of agricultural products.

In addition, the Uzbek side said that the two countries do not fully use the resources and opportunities for cooperation in the agricultural sector, and the cooperation in the supply of food and fresh vegetables and fruits to Mongolia is possible.