Wednesday, March 12, 2014

Mongolia Brief March 12, 2014 Part II

Defense Ministry runs sport events

Ulaanbaatar, March 12 (MONTSAME) Ahead of the 93rd anniversary of the Mongolian Armed Forces and Mongolian Soldiers' Day, to be marked March 18, the Ministry of Defense organized friendly sport events March 11.



The events ran among teams of the General Staff of the Armed Forces, Embassies of the USA, Russia and China and Defense Attaches.

Mongolian team won gold medal in tennis, teams from Chinese and Russian Embassies grabbed gold medals in basketball and volleyball categories.

Foreign Minister to pay official visit to Australia

Ulaanbaatar, March 12 (MONTSAME) The Minister of Foreign Affairs L.Bold will pay an official visit to Australia March 18-20 at invitation of his counterpart Ms Julie Bishop.

This is the first visit of Mongolia’s FM to Australia since 1993.

Mr Bold aims to forward a widening of the Mongolia-Australia relations into an expanded partnership volume, to strengthen political relations, and to intensify the bilateral cooperation in mining, education and agricultural spheres.

The Foreign Ministers of the two countries will hold official talks. Mr Bold will also be received by Ms Bronwyn Bishop, the Speaker of the Australian parliamentary House of Representatives.

The Minister intends to meet members of the Australia-Mongolia inter-parliamentary group to exchange views on expanding the inter-parliamentary cooperation, and will establish a related memorandum.

The Minister will hold a meeting with Australian business delegates in Melbourne city to introduce to them a new environment of business and investments, to attract investments from Australia and to fortify the trust of Australian businessmen in Mongolia. He will be interviewed by Australian public TV.

FM meets MIC authority

Ulaanbaatar, March 12 (MONTSAME) The Minister of Foreign Affairs L.Bold Wednesday received Mr Gilles Guerrier de Dumast, a chairman of Mongolia's Investment Corporation’s (MIC) representative leading council.

The meeting was held at a request of the MIC’s side. Mr Dumast introduced to the Minister current activities of the MIC in Mongolia.

Ministers meet FAO Director-General

Ulaanbaatar, March 12 (MONTSAME) The Minister of Foreign Affairs L.Bold and the Minister of Environment and Green Development S.Oyun Wednesday met Mr Jose Graziano da Silva, the Director-General of the UN Food and Agriculture Organization (FAO).

The sides shared views on the Mongolia-FAO cooperation in food, agriculture and forestry. Mr Bold said Mongolia aspires to actively participate in the FAO’s activities, attaching a great importance to this.

Mr Silva is taking part in the 32nd session of the FAO Regional Conference for Asia and the Pacific running these days in Ulaanbaatar. The conference has brought together Ministers of 46 countries on food, agriculture, forest and fishery affairs. They are discussing opportunities and challenges in the region and priority areas of work to improve food security and nutrition, increase agricultural productivity, raise the standard of living in rural populations and contribute to sustainable economic growth.

N.Batbayar meets head of ECP

Ulaanbaatar, March 12 (MONTSAME) The Minister of Economic Development N.Batbayar Wednesday received Mr Antonio Somma, a head of the Eurasia Competitiveness Programme (ECP) at the Organization for Economic Co-operation and Development (OECD).

Mr Somma spoke about projects on increasing the competitiveness of mining sector, on economic diversity and on combating corruption, which are possible to be co-realized with the Mongolian side.

In response, the Minister said the Mongolian government supports these projects, and exchanged views with Mr Somma on the Dutch disease phenomenon, one of the economic difficulties among mineral rich nations. Mr Batbayar asked the OECD to cooperate in preventing this problem.

Mr Somma promised to work out an appropriate solution for Mongolia after conducting a research together with the ECP experts and to present it to the Minister soon.

The Dutch disease is a term in economics, and is related to the apparent relationship between the increase in exploitation of natural resources and a decline in the manufacturing sector (or agriculture). The mechanism is that an increase in revenues from natural resources (or inflows of foreign aid) will make a given nation's currency stronger compared to that of other nations (manifest in an exchange rate), resulting in the nation's other exports becoming more expensive for other countries to buy, making the manufacturing sector less competitive. While it most often refers to natural resource discovery, it can also refer to "any development that results in a large inflow of foreign currency, including a sharp surge in natural resource prices, foreign assistance, and foreign direct investment".

The term was coined in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of a large natural gas field in 1959.

Stock exchange news for March 12

Ulaanbaatar, March 12 (MONTSAME) At the Stock Exchange trades held Wednesday, a total of 41 thousand and 250 shares of 24 JSCs were traded costing MNT 18 million 030 thousand and 258.29.

"Remikon" /13 thousand and 423 units/, "State Department Store" /7,739 units/, "Khokh gan" /7,418 units/, "Ariljaa impex" /6,073 units/ and "E-trans logistics" /1,546 units/ were the most actively traded in terms of trading volume, in terms of trading value--"State Department Store" (MNT four million 457 thousand and 407), "Darkhan khuns" (MNT two million 876 thousand and 250), "Remikon" (MNT two million 026 thousand and 179), "Ariljaa impex" (MNT one million 921 thousand and 080) and "Baganuur" (MNT one million 040 thousand and 460).

The total market capitalization was set at MNT one trillion 654 billion 993 million 453 thousand and 368. The Index of Top-20 JSCs was 16,601.81, increasing by MNT 19.55 or 0.12% against the previous day.

Mongolian girl wins bronze in Kuwait

Ulaanbaatar, March 12 (MONTSAME) N.Angirmaa reached Tuesday 395 points and grabbed a bronze medal in 10m air rifle junior women event of the 7th Asian air gun championship in Kuwait.

Thus, our shooter is awarded a right to take part in the second Youth Olympic Games that will take place in Chinese Nanjing August 16-18. The bronze medal won by Angirmaa becomes the first ever medal a Mongolian junior shooter grabs at a continental tournament.

At the 10m air rifle junior men event, our nine athletes competed, the most successful among them became B.Battogtokh who came sixth with 616 points. Amir Hossein Golpasand of Iran became champion at this event, followed by Indian Singh Mandi and Chinese Lilong Liu.

B.Ganbold finishes 25th in sprint event

Ulaanbaatar, March 12 (MONTSAME) The only Mongolian in Sochi Paralympics B.Ganbold Wednesday finished the 25th among 35 in men’s 1km sprint qualification event of cross country skiing.

Having traversed the distance with time result of 4:26.65, our skier did not qualify to compete further in semifinal and final rounds.

Thus, he has only one event to compete in the Sochi Paralympics--a 10 km standing on Sunday.

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