Taiwan's export to Mongolia increases two times
Thus, the country’s export volume raised by USD 3.8 million or 2.25 times compared to total export of 2017.
As of the first five months of 2018, Taiwan exported goods worth USD 4.9 million to Mongolia. Thus, the country’s export volume raised by USD 3.8 million or 2.25 times compared to total export of 2017, reports the Taipei Trade and Economic Representative Office in Ulaanbaatar. Mongolia mostly imports electronic devices and equipment from Taiwan. "Raised export volume of Taiwan is an indication of Mongolia’s economic revival. On the other hand, it is a result of a policy ‘Connecting Taiwan-Mongolian businesses and entities’ being realized by the Taipei Trade and Economic Representative Office in Ulaanbaatar. It is commendable that the Government of Mongolia is focusing attention to develop small and medium enterprises. Taiwan is experienced in boosting SMEs. We have advantages to offset each other's disadvantages," said Huang Kuo-Jung, Representative of Taipei Trade and Economic Representative Office in Ulaanbaatar. Moreover, he cited that the parties mutually established Representative Offices in 2002 and 2003 and emphasized the Government of Taiwan has opened a line of credit worth USD 20 million in five commercial banks of Mongolia through the Export-Import Bank of Taiwan in 2003, paying attention to strengthening Taiwan-Mongolian business cooperation. Consequently, it provided conditions to Mongolian entities and businesses to raise funds and to create financial sources.
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