Deputy Foreign Minister meets UK Prime Minister’s Trade Envoy to MongoliaPolitics
Ulaanbaatar/MONTSAME/. On September 13, Deputy Minister of
Foreign Affairs B. Munkhjin, who is currently visiting the UK, had a meeting
with the UK Prime Minister’s Trade Envoy to Mongolia, MP Mr. Daniel Kawczynski
in the Palace of Westminster.
During the meeting, the two sides exchanged views on the present state of trade and economic cooperation of the two countries, how to further expand the relationship, and some regional and international issues.
Expressing an interest in expanding friendly relations and cooperation between Mongolia and the United Kingdom in all fields, in particular economic cooperation, trade and investment, Deputy Minister B.Munkhjin emphasized that Mongolia’s accession to the Enhanced Framework of the UK’s Generalized Scheme of Preferences (GSP) is of great significance in increasing trade turnover between the two countries, diversifying Mongolia's exports and developing the production of value-added products.
Deputy Minister B.Munkhjin invited Mr. Daniel Kawczynski to visit Mongolia in the near future and expressed commitment to build the opportunity for him to get acquainted with the trade and economic environment of Mongolia and meet with representatives of major Mongolian businesses.
On February 5, 2021 Deputy Minister of Foreign Affairs B.Munkhjin and Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to Mongolia Philip Malone exchanged notes on Mongolia’s accession to the Enhanced Framework of the UK’s Generalized Scheme of Preferences (GSP). It creates a possibility to export 7,200 Mongolian-made items to the UK market at duty-free and preferential tariffs.
The trade turnover between Mongolia and UK amounted to USD117 million in 2020, of which exports were USD84 million and imports were USD33 million.