Asia > Eastern Asia > Mongolia > Thailand premier visits Mongolia in attempt to bolster trade relations

Mongolia: Thailand premier visits Mongolia in attempt to bolster trade relations

2013/04/29

Thailand will forge closer ties with Mongolia for trade, investment and service businesses during the visit to that country by Thailand's Prime Minister Yingluck Shinawatra this weekend. Commerce Minister Boonsong Teriyapirom said he would join the government team and private representatives in exchanging opinions with Mongolian officers and private enterprises for promoting trade increase. The three-day visit ends on Monday.

A Thailand Business Forum will be held to showcase Thai goods and Geographical Indication products.

Moreover, Thailand will propose that Mongolia acknowledge a memorandum of considerate on tightening trade and economic relations, Boonsong said.

Thailand will as well encourage meetings between the two nations' trade ministers as a stage to discuss bilateral trade promotion.

Mongolia has shown high interest in the One Tambon One Product (Otop) project with a view to developing its own local goods for export.

Thailand has promised to give advice and share experience on such product development, Boonsong said.

He said that although two-way trade is completely small because of distance and logistical barriers, it should show a continuous increase driven by closer cooperation. It is expected that Mongolia will show higher request for Thai goods.

Potential imports from Thailand are consumer goods, foods, automobiles, processed food, and services such as property development, construction, mining and healthcare.

Thai-Mongolian trade was valued at US$13.69 million last year. Thai exports, chiefly vehicles, paper and refrigerators, were valued at $13.23 million. Thailand imported goods, mainly minerals, worth $460,000.

It as well imports printing products, clothes, footwear, electric appliances, and consumer goods from Mongolia.

Related Articles

Inauguration of Mongolia's president-elect scheduled for July 10
2017/07/10 Mongolia's president-elect Khaltmaa Battulga will be inaugurated on July 10, authorities said Sunday. Miyegombyn Enkhbold, Mongolia's parliament speaker, has issued an order to hold an extraordinary parliament conference to prepare for the inauguration ceremony of the newly elected president on Monday morning.
Mongolia’s mighty military diplomacy
2017/07/10 Mongolia is quickly becoming known for its world military presence. With China and Russia as its only direct neighbours, Mongolia faces a conundrum. Mongolia’s foreign policy is dominated by the necessity to balance the influences of its powerful neighbours and the need to gather support from like-minded nations. Mongolia refers to this as their ‘Third Neighbour Policy’, which aims to allow for economic and political self-determination independent of both China and Russia. Mongolia’s military is key to the execution of this policy.
Saving face on the Korean Peninsula
2017/05/07 Kim Jong-un sees nuclear capability as almost his sole source of regime security and he is not going to give it up, no matter how strong the pressure. He is not stupid. All he has to do is to look at the history of Iraq and Libya, where neither dictator had nuclear weapons. So if the United States insists on de-nuclearisation of the peninsula, presumably that would require regime change, and regime change is unlikely without the use of force. War in the area would be hugely destabilising and potentially disastrous. No one in their right mind should want that. China is right to urge negotiations, but what is to be negotiated? Kim is not going to negotiate away his own security by giving up his nuclear capability. But if China exerts sufficient pressure, he may acknowledge to stop testing.
Higher earning Why a university degree is worth more in some countries than others
2016/12/11 A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree. The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
Asian Markets Retreat After Oil Prices Fall Again
2016/01/26 Asian stock markets retreated on Tuesday, snapping a two-day winning streak, following the weak cues overnight from Wall Street and the pullback in oil prices. Investors as well treaded cautiously ahead of monetary policy statements by the U.S. Federal Reserve and the Bank of Japan later in the week. The Japanese market is notably lower, with the negative lead from Wall Street and the fall in oil prices denting risk appetite. Additionally, a stronger yen hurt exporters' stocks. In late-morning trades, the benchmark Nikkei 225 Index is declining 319.08 points or 1.86 % to 16,791.83, off a low of 16,683.64 in early trades.