Why is this important
Uzbekistan and Mongolia continue to expand economic cooperation, focusing on trade, industrial cooperation, and logistics. For Uzbek businesses, Mongolia is considered a promising market for technology supply, textile processing, and joint investment projects. At the same time, the development of new transport routes and raw material projects can strengthen economic ties between countries and expand regional trade.
What happened
- An Uzbek-Mongolian business forum was held in Tashkent with the participation of representatives from more than 70 companies from both countries.
- The delegations were led by Ilzat Kasimov, Deputy Minister of Investment, Industry, and Trade of Uzbekistan; Dadanhu Batbaatar, Ambassador Extraordinary and Plenipotentiary of Mongolia to Tashkent; and Sukhbaatar Erdenebat, Member of the Parliament of Mongolia.
- During the forum, the parties discussed the development of trade, industrial cooperation, logistics and joint investment projects.
Numbers and facts
- Representatives from more than 70 companies participated in the business forum; according to the results of the first quarter of 2026, Uzbekistan’s exports to Mongolia increased by 15.6%.
- The parties set a goal to increase mutual trade turnover to $100 million, and during the negotiations, industrial cooperation in the field of processing Mongolian wool and cashmere for further export of products was discussed.
- Mongolia plans to increase the sheep population to 1 million in the next four years, and the parties also discussed the implementation of Uzbek irrigation systems in Mongolia.
- The forum addressed the launch of cargo transportation along the Uzbekistan-Kyrgyzstan-China-Mongolia transport corridor.
- The representative office of the Ministry of Geology of Uzbekistan in Ulaanbaatar has already begun work on the development of mineral deposits.
- Within the framework of the forum, B2B and G2B negotiations were held with the participation of Mongolian companies Tsamkhag Construction, Prime Nomadic Meat, Suzur Health Med, and others.
- Following the meetings, the parties formed a package of joint investment projects and a mechanism for supporting initiatives.
Context
- For Uzbek companies, the forum opens up opportunities to expand the supply of technologies, equipment, and industrial cooperation with Mongolia.
- Joint projects in the processing of wool and cashmere can strengthen the export orientation of the textile industry and expand the raw material base for producers.
- Simultaneously, the development of the transport corridor and cooperation in the field of geology demonstrate the parties’ desire to build broader economic ties beyond traditional trade.
