TRADE AND CAPACITY BUILDING

As cultural and economic ties further develop between the EU and Mongolia, increasing dialogue between EU members and Mongolia that promote common economic interests in Asia will begin to spur economic growth even more.

Mongolia has increased its economic and political ties with the EU though it is still very dependant on its neighbours, Russia and China.

Recently, Mongolia has received funding from donor countries, the IMF and the World Bank to support the Economic Growth and Poverty Reduction Strategy Programme. It is apparent that Mongolia will have to improve the quality of its labour force and business knowledge so that it fully takes advantage of the increasing links with the EU and the rest of Asia.

Past ties with the Soviet Union and the end of Soviet support have cost Mongolia trade opportunities and increased unemployment and poverty. Mongolia will have to work hard to address the past and work in a new era of globalization in order to develop ties with new markets such as the European Union. The economic and political ties between the EU and Mongolia have grown and the EU commission has opened a new office in Ulaanbaatar to address these new priorities. These developments and a focus on increasing trade between the EU and Mongolia, fostering new investment opportunities, training staff, increasing marketing effectiveness and corporate social responsibility -- Mongolia is fast becoming a hot spot for investment.

As cultural and economic ties further develop between the EU and Mongolia, increasing dialogue between EU members and Mongolia that promote common economic interests in Asia will begin to spur economic growth even more.

For more information on investment opportunities click on: Regency Residence