The Mongolia Trade and Investment Forum

October 2016

On October 13, “The Mongolia Trade and Investment Forum” was held, jointly hosted by the Embassy of Mongolia in Japan and JETRO, on the occasion of a visit to Japan by Mongolian Prime Minister Jargaltulga Erdenebat. The forum was joined by around 300 participants. This trip to Japan was the Prime Minister's first official trip overseas since the start of his administration this August.


High hopes for Mongolia-Japan Economic Partnership Agreement

JETRO Chairman and CEO Hiroyuki Ishige stated in his opening remarks “Mongolia and Japan have been forging an ever-closer relationship through recent active summit-level diplomacy. The Mongolia-Japan Economic Partnership Agreement also entered into force this June. While the effectuation of the EPA marked an important milestone in the history of our relationship, taking advantage of the agreement is more important for the economies of both countries.”

Takumi Ihara, Parliamentary Vice-Minister of Economy, Trade and Industry of Japan, gave special guest remarks and stressed the following: “Through the 11 summit meetings and three formal visits to Mongolia by Prime Minister Abe since his inauguration, the relationship between Mongolia and Japan has grown ever closer. The EPA, which went into effect this June, is adding further momentum to this. From here on out, the extent of Mongolia's growth will be determined by the development of both major industries and its abundant natural resources.”

In his keynote speech, Prime Minister Erdenebat had this to say: “The EPA concluded with Japan is the first free trade agreement for Mongolia, and it is a big step forward for the economic growth of our country. It has a significant meaning as well in terms of both countries entering a new phase in economic cooperation, and also in preparing a long-lasting and healthy relationship toward realizing the gradual reduction of tariffs, lowering of trade barriers and proliferation of investment and advanced technologies.”

Prime Minister Erdenebat

Parliamentary Vice-Minister Ihara

JETRO Chairman Ishige

Toward revitalization of trust from investors

During a dialogue between Prime Minister Erdenebat and JETRO Chairman Ishige, the Prime Minister touched on his country's establishment of a foreign investment committee to handle requests from various stakeholders in order to improve the investment environment for foreign companies and gain the trust of investors. Moreover, he has high hopes for technological cooperation with Japan in the fields of natural resources and renewable energy. In response, Chairman Ishige highly praised the efforts the Prime Minister has been making to resolve those issues, and he made clear that JETRO will enhance its dissemination of information toward Japanese companies regarding the investment environment of Mongolia. In addition, he announced that JETRO will focus its efforts on providing support to Mongolian and Japanese companies in association with the Mongolian National Chamber of Commerce and Industry and the Embassy of Mongolia in Japan.