The industrial cooperation between Russia and Mongolia has great potential for growth.
The Head of the Ministry of Industry and Trade, Denis Manturov, met with the Minister of Mining and Heavy Industry of Mongolia, Sum’yaabazar Dolgosurengiyn. The press centre of the Russian ministry reports that our Mongolian partners purchased the entire range of the Russian large machinery exhibited recently in Ulaanbaatar.
The vehicles included a series of Rostselmash harvesters, a Kirovets tractor from the Saint Petersburg Tractor Plant, and sowing vehicles from the Penza plant Radiozavod. According to the report, more than 50 Mongolian companies showed interest in purchasing products by Tvertorgmash, one of the largest manufacturers of equipment for the food industry.
The Head of the Russian Ministry of Industry and Trade said that last year the commodity turnover between Russia and Mongolia went up by 47 % in Q1, while this year’s Q1 saw a 127 % increase compared to the same period last year. As it was reported earlier, Vnesheconombank and the Mongolian Bank for Development are discussing the possibility of increasing the limits of financing the export of Russia agricultural machinery this year and the coming years.