Uzbekistan and Mongolia Agree to Expand Bilateral Trade

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan and Mongolia have agreed to expand bilateral trade and set a target of increasing mutual turnover to US$100 million, following a business forum held in Tashkent with participation of more than 70 companies from both countries.

The delegations were led by Ilzat Kasimov, Deputy Minister of Investments, Industry and Trade of Uzbekistan, Mongolian Ambassador to Uzbekistan Dadanhüü Batbaatar, and Mongolian Member of Parliament Sukhbaatar Erdenebat.

Participants noted positive dynamics in bilateral trade, including a 15.6% increase in Uzbekistan’s exports to Mongolia in the first quarter of the current year.

Industrial cooperation was identified as a key area, particularly the processing of Mongolian wool and cashmere in Uzbekistan with subsequent export of finished products.

In agriculture, the sides discussed plans to increase the number of Mongolian sheep in Uzbekistan to 1 million head by 2029, as well as the introduction of Uzbek irrigation technologies into Mongolian farming.

Special attention was given to transport and logistics cooperation. The parties considered launching freight transportation along the Uzbekistan–Kyrgyzstan–China–Mongolia international corridor, aimed at improving regional connectivity and reducing logistics costs.

In the geological exploration sector, it was reported that the representative office of Uzbekistan’s relevant ministry in Ulaanbaatar has already begun work on developing mineral deposits.

The forum also hosted B2B and G2B meetings involving companies such as Suzur Health Med, Prime Nomadic Meat, and Tsamkhag Construction, among others. The discussions resulted in a package of investment projects and preliminary agreements.

The event concluded with a decision to establish a permanent mechanism for monitoring and supporting joint initiatives to ensure practical implementation of agreements between business communities of the two countries.