Mongolian Mineral Products and Issues of International Trade

in Inner Asia
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The speedy growth of the Mongolian economy is inherently linked with the development of the mining sector. As a result of continued policies by the Mongolian Government to attract foreign direct investments, the volume of fdi in the mining sector has been increasing steadily.

World-class mines of strategic importance, like Tavan Tolgoi and Oyu Tolgoi, have started operating with high rates of coal and copper production and export earnings. However, mineral products continue to be exported to the international market at a price lower than the international market price. In addition, Mongolia’s mineral products exports remain highly disorganised, the quality of mineral products is not meeting international standards, while transportation and logistics solutions to the third market are still insufficient.

All of these pressing issues hinder Mongolia’s competitiveness in the international market. This paper argues for more research into those issues experienced in the mining sector and for the need to set up a mineral products exchange in Mongolia.

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References

GalsandorjD. Mongolyn ediin zasgiin gadaad hariltsaa, 100 jild [100 years of Mongolian foreign economic relations] 2011 Ulaanbaatar Ministry of Foreign Relations Publishing

GalsandorjD. Mongolyn erdsiin buteegdehuunii olon ulsyn hudaldaa [International experience and possibility to set up a Mongolian minerals commodity exchange] 2013a Ulaanbaatar Tenger Publishing

GalsandorjD. Mongol ylsyn eksportyg hogjuuleh sudalgaa [Mongolian Export Development Study: Mineral and non-mineral products] 2013b Ulaanbaatar Tenger Publishing

Mineral Resources Authority of Mongolia Ashigt maltmal setguul [Mineral Resources Authority Newsletters] 2012 Ulaanbaatar BMB Publishing

Mineral Resources Authority of Mongolia Ashigt maltmal setguul [Mineral Resources Authority Newsletters] 2013 Ulaanbaatar BMB Publishing

Mongolian Exporters’ Association Mongolyn erdsiin buteegdehuunii uildverleliin hetiin tolov 2022 on hurtel [Mongolian mineral production outlook up to 2022] 2013 Ulaanbaatar Tenger Publishing

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