Taiwan keen to intensify business relations with Mongolia
Taipei Trade and Economic Representative Office in Ulaanbaatar held a meeting to intensify Mongolia-Taiwan business relations and cooperation.
Taipei Trade and Economic Representative Office (TTERO) in Ulaanbaatar held a meeting to intensify Mongolia-Taiwan business relations and cooperation. The Representative Office introduced the new section on its website titled ‘Taiwan-Mongolia trade, economic relations and loan’ in Mongolian, calling the banks to use widely the section and promote the USD 20 million loan of the Export-Import Bank to the public. The total trade turnover between Taiwan and Mongolia tripled in 2017 due to recovery and growth of Mongolia's economy. In order to intensify bilateral trade, economic relations and cooperation the Representative Office created a new section on its website to deliver complete information to Mongolian business entities and entrepreneurs. Required information including loan regulations of the Export-Import Bank of ROC, contacts of 5 commercial banks providing the loan and ‘Credit Guarantee Fund’ for entities without sufficient collateral are available on the section. Mongolia and Taipei’s manufacturing sectors are mutually complementary as Mongolia has rich natural resources and Taiwan has great experience in processing raw materials, producing value-added products and putting it on the world markets. It will be possible to connect entrepreneurs of the two countries and intensify their cooperation through the Export-Import Bank's loan.
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