Mongolia and France Collaborate to Organize Strategic Business Meeting

01 Nov, 2024

The recent business meeting between Mongolia and France took place at the Mongolian National Chamber of Commerce and Industry (MNCCI), as reported by GoGo. This important event was led by Claude Imauven, the Chairman of the Orano Group and President of the Mongolia-France Business Council. The French delegation consisted of representatives from various sectors, reflecting a strong interest in fostering trade relationships. During the meeting, Imauven emphasized Mongolia's vast resource potential, particularly in agriculture and oil, expressing optimism about the collaboration opportunities that could arise from this engagement.

The CEO of the Chamber of Commerce of Mongolia, T. Duuren, announced exciting plans for establishing the Chamber's first European branch. This initiative aims to attract French and European members, thereby enhancing business ties between Mongolia and Europe. Currently, the trade balance favors France, with Mongolia importing over $100 million worth of French goods while exporting only $20-25 million, primarily in cashmere and mining products. Duuren stressed the necessity of export financing to diversify Mongolia's economy and boost income levels, highlighting the untapped potential in various sectors.

In a further sign of commitment to strengthening ties, BPIFRANCE and the Trade and Development Bank signed a Memorandum of Understanding (MoU) to facilitate collaboration. This partnership aims to promote trade and investment between the two nations, creating a more robust framework for economic cooperation. Overall, this meeting marks a significant step forward in enhancing Mongolia's international trade relationships, particularly with France, and opens up new avenues for growth and development in both countries.

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