India - Mongolia Business and Cultural Council

Mongolia, landlocked in East Asia, is known for its vast steppes, nomadic culture, and the Gobi Desert. Its capital is Ulaanbaatar. Mongolia has a rich history influenced by the Mongol Empire, led by Genghis Khan.

Ambassador and Consul General

Global India business forum presented honorary membership H.E. Mr. Ganbold Dambajav, Ambassador, Extraordinary and Plenipotentiary of Mongolia. The GIBF team had a fruitful discussion to collaborate with Mongolia. to explore different business opportunities and trade between two countries. Global President of GIBF, Dr. Jitendra Joshi and Co-Founder & Director - Global Operations, Deepali Gadkari attended the meeting.

embassy-of-mongolia-ambassador-and-consul-general

Gold, Coal Briquettes , Copper Ore, Iron ore , and Animal Hair

Mineral products, Machinery, Equipments, Vehicles, Food Products, Refined Petroleum

About Mongolia

ABOUT Mongolia

Mongolia is located in Asia between Russia to the north and China to the south. Situated on mountains and plateaus, it is one of the world's highest countries with elevation averaging 5,180 feet (1,580 meters).
Mongolia is divided into three major topographic zones: the mountain chains that dominate the northern and western areas, the basin areas situated between and around them, and the enormous upland plateau belt that lies across the southern and eastern sectors. Mongolia’s small logging sector produces a modest amount of timber annually that is used largely for firewood, with some lumber production.
Mongolia maintains close cultural, political, and military ties with Russia while China is its largest economic partner. Mongolia’s foreign relations are focused on preserving its autonomy by balancing relations with China and Russia, as well as its other major partners, Japan, South Korea, and the US. Mongolia boasts a rich and vibrant culture shaped by its nomadic heritage, unique traditions, and deep reverence for nature. Central to Mongolian culture is the nomadic lifestyle, which has been preserved for centuries.

Business Opportunities in Mongolia

BUSINESS OPPORTUNITIES IN Mongolia

The countrys huge mineral reserves, agricultural resources, and proximity to the vast Asian market make it an attractive destination foreign direct investment. The advantages of doing business in Mongolia are -
Abundant but untapped natural resources
Vast land and pasture, a large number of livestock
Adjacent to the huge markets Russia and China
Proximity to fast-growing markets in the Asia-Pacific region
Mongolia is a relatively healthy, well-educated young country
Pursue an open economic policy
The government is considering privatization of the most significant government.

Exports and Imports In Mongolia

Overview In 2022, Mongolia was the number 126 economy in the world in terms of GDP (current US$), the number 94 in total exports, the number 125 in total imports, the number 112 economy in terms of GDP per capita (current US$) and the number 120 most complex economy according to the Economic Complexity Index (ECI).

Top Exports of Mongolia

The top exports of Mongolia are gold ($2.69B), coal briquettes ($2.12B), copper ore ($1.78B), iron ore ($635M), and animal hair ($234M) to China ($5.4B), Switzerland ($2.58B), Singapore ($152M), United Kingdom ($85.2M), and Russia ($58.7M).

Top Imports of Mongolia

The top imports of Mongolia are Refined Petroleum ($1.55B), Cars ($524M), Delivery Trucks ($333M), Trailers and semi-trailers, not mechanically propelled vehicles ($229M), and Raw Iron Bars ($211M), importing mostly from China ($3.06B), Russia ($2.44B), Japan ($577M), South Korea ($437M), and United States of America ($241M).

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