Australian businesses take increased interest in Mongolia
Australian businesses take increased interest in Mongolia.
Australian businesses take increased interest in Mongolia. Australian businesses are taking an increased interest in Mongolia as market opportunities expand from mining which accounts for approximately 20 percent of GDP to the economy, to include water management solutions. The relationship between Australia and Mongolia was strong as demonstrated by the large presence of Australian companies and the opening of the Australian Embassy in Ulaanbaatar in December 2015. There are many Australian mining businesses operating in Mongolia, especially Australia’s world-class and highly regarded mining equipment, technology and services (METS) companies. The opportunities for Australian companies to work with Mongolia were further highlighted at the recent opening of a groundwater monitoring network in the city of Choir, which is located approximately 200 km south of Ulaanbaatar. While mining is important to Mongolian economy, there is recognition that water management is central to allow sustainable economic development to occur, particularly in rural areas where agriculture is a part of life. The recognition presents growing opportunities for Australian businesses that can offer new technology and solutions to address water management and conservation concerns.
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