Mongolian brands expand exposure

ZGM DAILY

2018-02-09 09:59 GMT+8

Alongside its fast growing economy, Mongolian national brands are seeking access to bigger markets. For a country that is heavily dependent on mining, economic diversification has been the main area of focus.

Food products export doubled last year 

Particularly, the agriculture is considered the second biggest industry in Mongolia following its massive mining resources. Several companies have successfully penetrated international markets utilizing its substantial renewable natural resources. Mongolian Customs General Administration has reported that the food products export doubled last year. Phytogenic products export grew by over USD 12 million, reaching USD 67.4 million, while wooden products export rose by around 50 percent, to USD 633 million. 

BEVERAGE

One of the high in demand agricultural businesses is, without a doubt, brewery. APU JSC’s Golden Gobi premium lager beer has succeeded in penetrating Japanese market, finding a place in the 7-Eleven, an international chain of convenience stores.

Named after the largest desert region in Mongolia and Asia, Golden Gobi beer is brewed strictly according to the German Beer Purity Law (Reinheitsgebot), and has started exporting to Japan since last year. Batsaikhan Purev, CEO of APU JSC’s parent company Shunkhlai LLC, previously said during an interview, “We are done competing with one another in the domestic market. It is time to compete in the world”. Fulfilling its objectives one after another, the company is now one step closer to its visionary goal to become Mongolia’s global brand ambassador.

FOOD 

Regardless of the economic downturn in the recent years, certain national producers successfully maintained their growth and improved their competitiveness in the global market. TESO Corporation, one of Mongolia’s major players, has started exporting their products to Kazakhstan and People’s Republic of China (PRC). The company increased its export goods and volume over the last year.

According to the company officials, TESO Corporation has started exporting Golden Milk, Zuv curd drink and Lapsha noodles, quadrupling its export revenue and became Mongolia’s biggest food exporter in 2017. Furthermore, the company has recently raised a total of USD 6.5 million from the European Bank of Reconstruction and Development to increase competitiveness and manufacture of its innovative products.

TEXTILES 

Aside from food exports, Mongolia excels in cashmere industry. Holding 66 percent of domestic market share, Gobi Corporation opened a branch in Ereen city of PRC and Brussels of Belgium in 2017.

The company currently has three branches and 57 franchisee in 26 cities of 11 countries. As a result, the company’s revenue grew by MNT 9 billion in the first half of 2017. Furthermore, Erdenet Carpet LLC opened a store in Khukh Khot of PRC. With over 20 years of experience, the company opened branches in PRC, Germany, Russian Federation, Japan, the U.S. and France. According to an official of Erdenet Carpet, the company is planning to export their products to Switzerland.

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