Mongolia India Business Council Opens to Support Businesses

By Ch.KHALIUN

Last Friday, Mongolia India Business Council (MIBC) was established to support the businesses of the two countries and help in expanding their cooperation.

At the opening ceremony of the council, President of the MIBC B.Gantulga said that Mongolia has been importing only religious items and souvenirs from India. He noted that some of India's biggest companies have expressed interest in investing in Mongolia's engineering infrastructure.

He said, "During his state visit to Mongolia paid last year, Indian Prime Minister Narendra Modi said that India will consistently support Mongolia in every sector. In order to develop the trade and economic cooperation between the two countries, we are establishing the MIBC at the initiative of Indian entrepreneurs."

"In recent years, the electronics business is developing around the world. In addition to importing religious items and souvenirs, we are interested in cooperating to develop e-commerce between the two states. Any kind of business relationship develops based on mutual trust. That's why our council will provide the two countries' businesses with real and current market information."

Honorary President of the MIBC O.Nyamdavaa pointed out that 95 years have passed since Mongolia and India established diplomatic relations. "During this time, political and cultural relations and cooperation of Mongolia and India have been intensively developing. First Prime Minister of India Jawaharlal Nehru consistently supported Mongolia in joining the UN. Last year, Prime Minister Modi paid his first official visit to Mongolia. The visit was crucial in taking the strategic cooperation of the two countries to a new level. Involving the private sectors of the two states is important in advancing economic cooperation between Mongolia and India. The MIBC will work toward providing support in this matter."

During the council's opening ceremony, Mongolian representatives and Executive Director of the MIBC Surendra Kumar Bansal spoke about current economic...