Yesterday, Minister of Foreign Affairs (MoFA) D. Tsogtaabatar and Country Representative of the International Financial Corporation Tuyen Nguyen signed a memorandum of understanding (MoU) on easing trade and increasing agriculture exports.
Within the scope of the MoU, the IFC will provide support to MoFA to establish an online trade portal that will house a database of laws and regulations relevant to trade cooperation.
In addition, the parties will work on developing a program to support the export of high quality agricultural products, and which will also focus on upgrading customs regulations and simplifying border control over the next five years.
Tuyen Nguyen said, “By having a transparent and timely trade system, Mongolian business entities, especially companies and individuals operating in the agriculture sector, will have more opportunity to operate and be involved in foreign trade, which will further contribute to Mongolia's export competitiveness.”
Yesterday, Minister of Foreign Affairs (MoFA) D. Tsogtaabatar and Country Representative of the International Financial Corporation Tuyen Nguyen signed a memorandum of understanding (MoU) on easing trade and increasing agriculture exports.
Within the scope of the MoU, the IFC will provide support to MoFA to establish an online trade portal that will house a database of laws and regulations relevant to trade cooperation.
In addition, the parties will work on developing a program to support the export of high quality agricultural products, and which will also focus on upgrading customs regulations and simplifying border control over the next five years.
Tuyen Nguyen said, “By having a transparent and timely trade system, Mongolian business entities, especially companies and individuals operating in the agriculture sector, will have more opportunity to operate and be involved in foreign trade, which will further contribute to Mongolia's export competitiveness.”