BAKU, Azerbaijan, October 1. Kazakhstan’s
Export Credit Agency approved a $33 million trade finance limit for
Mongolia’s Trade and Development Bank today in Astana, with deals
for the supply of Kazakh-made railway gondola cars worth about $21
million currently in progress.
This was reported by the Ministry of Agriculture of the Republic
of Kazakhstan.
The developments were discussed during the 10th meeting of the
Kazakhstan-Mongolia Intergovernmental Commission on Trade,
Economic, Scientific, Technical and Cultural Cooperation in
Astana.
"The development of trade finance opens up additional
opportunities. Kazakhstan’s export credit agency has begun working
with Mongolian banks. A limit of $33 million has been approved for
the Trade and Development Bank, under which deals are being
structured for the supply of Kazakhstani railway gondola cars
valued at approximately $21 million," the statement of the ministry
says.
The expansion of trade financing comes as Kazakhstan and
Mongolia seek to strengthen practical business ties and increase
direct cooperation between companies.
The 10th meeting of the intergovernmental commission brought
together Kazakhstan’s Minister of Agriculture Aidarbek Saparov,
Mongolian Deputy Prime Minister Nyamtaishir Nomtoibayar, government
officials and business representatives from both countries.
Saparov said that the political dialogue between the two
countries should translate into concrete joint projects, trade
contracts and new production ties.
The sides also identified agriculture, machinery, agricultural
processing, mining and metallurgy, logistics and other sectors as
areas with potential for investment and industrial cooperation.
Kazakhstan’s Trade and Integration Ministry also reported that
KazTrade had signed two agreements with Mongolian partners this
year, including MAX GROUP and Mon-Kaz Trade & Investment Hub.
The sides are also preparing to launch a Made in Kazakhstan
trading platform in Ulaanbaatar to support the presence of Kazakh
products on the Mongolian market.
The intergovernmental commission adopted a final protocol
outlining the agreements reached and priority areas for further
cooperation.
