Landlocked developing countries expected to see further economic growth based on research

The American Chamber of Commerce in Mongolia

2018-06-12 15:25 GMT+8

A new research center has opened in Ulaanbaatar to focus on researching the challenges of landlocked countries.

There are 32 landlocked developing countries around the globe. Due to their geographic locations, these countries have lagged behind in development by 20 percent compared to countries with access to seaports, and trading costs are generally twice as high as costs for transit countries.

The research center hopes to produce data and solutions that will help landlocked countries benefit from World Trade Organization agreements and improve competitiveness. Officials highlighted that the research center could become instrumental to Mongolia’s social and economic development. The Government of Mongolia has made continued attempts to organize the efforts of landlocked countries since 1990, and has donated 1 million USD to the research center to finance operational costs.​

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