Mongolia

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Recent visits to Mongolia by Chinese and Russian Presidents, Xi Jinping and Vladimir Putin, have cemented deals that may see the mineral-rich country double trade with its neighbours and achieve a wider market reach for its exports through the overhaul and expansion of its ageing rail network.
In a bid to lower trade barriers and eliminate Customs duties, Mongolia has struck its first major trade deal with Japan, which could pave the way for a broader network of free trade agreements (FTAs) while also boosting its chances of becoming a trade and logistics hub in the years to come.

Having learned the lessons of the 1997-98 financial crisis, Asia has since enjoyed a period of steady growth driven by consumption, investment and exports. The traditional model of low-cost manufacturing and exports to advanced markets has gradually been replaced with a more consumer-oriented and value-added approach. 

Changes to Mongolia’s mining legislation will open up vast new tracts of land for exploration and pave the way for new licence issuances. This should help restore the confidence of foreign investors made wary by government intervention in the sector.
New production capacity in Mongolia’s cement industry is set to meet rising demand as advanced technology is replacing old equipment, moving towards self sufficiency in one of the key materials in the construction trade.
Efforts to highlight Mongolia’s broad range of attractions are paying off, with the tourism industry on course to notch up a decade of sustained growth, a recently published report has concluded.

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