| $3 million grant to assist Asian countries in opening borders to trade and business |
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Mongolia will receive assistance from the Asia Development Bank as it works to end border restrictions which impede trade and business. The Asian Development Bank will provide a portion of a $3 million grant to Mongolia as a member nations of the Central Asia Regional Economic Cooperation to create simpler systems to safely opena borders to business.
There has been a recognition that the cost of international trade is much higher among landlocked Asian countries due to their terrain as well as stringent border crossing policies. www.mongolia-web.com                |
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| Canada to open trade office in Ulaanbaatar |
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Canada will open a permanent trade office in Mongolia to assist local Canadian businesses. Canadian firms have a reported $395 million in investments, including operating more than 20 mines. Canada is also Mongolia’s second largest investor. |
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