Friday, March 28, 2014

Mongolia Brief March 28, 2014



Foreign Affairs Minister receives Ambassador from Vietnam
March 28 (news.mn) The Minister of Foreign Affairs of Mongolia L.Bold received the Ambassador Extraordinary and Plenipotentiary to Mongolia from the Socialist Republic of Vietnam, Phan Dang Duong, for the presentation of the new Ambassador’s Credentials and to exchange views on bilateral cooperation on March 27th, 2014. 

Foreign Minister L.Bold said that he is keen to increase bilateral friendly relations and cooperation noting Mongolia`s willingness to become a member of APEC and become a partner on negotiation for ASEAN. He expressed hopes that the Vietnamese Embassy would support and cooperate Mongolia to get support from other members of ASEAN. 
Ambassador to Mongolia from the Socialist Republic of Vietnam Phan Dang Duong commented that he would make the effort to contribute to the strengthening of bilateral relations and cooperation between Mongolia and Vietnam. 
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Honorary Consulate of Mongolia opens in Albania
March 28 (news.mn) An Honorary Consulate of Mongolia has opened in Tirana in the Republic of Albania during the official visit by the Deputy Foreign Minister D.Gankhuyag. Ms.Belma Chela has been appointed as honorary consul from Mongolia to Albania. 
Present at the opening ceremony of the Honorary Consulate of Mongolia in Albania were the Deputy Foreign Minister of Mongolia D.Gankhuyag, the Chairman of the Parliament of the Republic of Albania Mr. Ilir Meta, the Minister of European Integration for Albania Ms. Klajda Gjosha, the Minister of Education and Sports Lindita Nikolla, the Minister of Foreign Affairs Ditmir Bushati and some Parliamentarians.
Honorary Consul Ms.Belma Chela commented that she would fulfill her duty responsibly, and focus on intensifying bilateral cooperation, and increase economic trade and investment. 
For the event, a photo exhibition displaying Mongolia and a traditional folk concert were performed to guests.
Related:
Honorary Consulate Opens in AlbaniaMontsame, March 28


Our Justices Meet with Foreign Arbitration Delegates
Ulaanbaatar, March 28 (MONTSAME) Mongolian judges of Chamber for civil cases of the Supreme Court Wednesday received some foreign delegates who are participating here in international conference on commercial arbitration.
The sides exchanged views and opinions on court participation in arbitration operations, realization of decisions of domestic and foreign arbitration and other matters. 
Among the visitors were Mr Andrea Carlevaris, the Secretary General of the International Court of Arbitration of the International Chamber of Commerce /ICC/, and Mr Aleksandr Tsuladze, the department of Court Statistics and Generalization of Georgia. 


Finance Minister Receives Vietnamese Colleagues
Ulaanbaatar, March 28 (MONTSAME) The Minister of Finance Ch.Ulaan Thursday received the Vietnamese delegation led by Mr Nguyen Cong Nghiep, the Vice Minister of Finance.
The delegation is here to study an experience gained by the Ministry in the budget management and in running financial system, and to intensify cooperation between the two Ministries.
The visitors gave Mr Ulaan a draft of cooperation memorandum they want to establish with our Ministry and invited the Minister and his Deputy S.Purev to Vietnam with visits.  


Ambassador G.Batjargal to Represent Mongolia at IACA
March 28 (infomongolia.com) The Ambassador and Permanent Representative of Mongolia to the International Organizations in Vienna Gunaajav BATJARGAL presented a Letter of Credence to the Dean of International Anti-Corruption Academy (IACA) Martin Kreutner on March 26, 2014.
Following the credential handing ceremony, sides discussed and exchanged views on bilateral cooperation between Mongolia and the IACA. During his meeting, Permanent Representative G.Batjargal emphasized the importance of the Memorandum of Understanding signed between the Independent Anti-Corruption Authority of Mongolia and the IACA in August 2013 and conveyed the invitation from Commissioner General N.Ganbold to Dean M.Kreutner to visit Mongolia at his convenient time.
IACA Dean M.Kreutner recalled with pleasure his attendance at the VII Ministerial Conference of the Community of Democracies held in Ulaanbaatar last year and praised Mongolia’s active role in the fight against corruption and its prevention.
Dean M.Kreutner warmly accepted the Commissioner N.Ganbold’s invitation and expressed his interest to involve Mongolians for Master Degree program at the International Anti-Corruption Academy.
Mongolia is a Party to the Agreement for the Establishment of IACA as an International Organization since June 2013.
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Speaker to Work in Aimags
Ulaanbaatar, March 28 (MONTSAME) The Chairman of the State Great Khural (parliament) Z.Enkhbold Friday headed for Ovorkhangai and Bayankhongor aimags with a March 28-31 working tour. 
On the first day of the tour he will get acquainted with activities of a farm of “Alpine” goat in Arvaikheer of Ovorkhangai.
In Bayankhongor province, Z.Enkhbold will attend opening ceremonies of a "New soum center" project and diagnostic center. After this, he will hold meetings with the local people.
The Speaker is being accompanied by Kh.Battulga, the Minister of Industry and Agriculture; D.Ganbat and R.Burmaa MPs; B.Boldbaatar, the secretary-general of the Parliamentary Office.


U.S. Secretary Of Defense Charles Hagel to Visit Mongolia Next Week
March 28 (infomongolia.com) According to American Forces Press Service from March 27, 2014, the United States Secretary of Defense Charles Timothy Hagel will travel next week to the Asia-Pacific region to convene a meeting with his counterparts of Japan, People's Republic of China and Mongolia.
The trip will be the U.S. Secretary of Defense Charles Hagel’s second official visit to Japan and first to China and Mongolia since serving at his current post.
In Japan, Secretary of Defense Ch.Hagel plans to strengthen military-to-military relationship and will discuss with Minister of Defense Itsunori Onodera on regional security matters.
In China, Ch.Hagel will have a full complement of bilateral engagements between the defense sectors and on regional security issues as well.
Pentagon press secretary John Kirby told reporters, “Mongolia is becoming a more important security partner for the United States, having deployed forces to Iraq and Afghanistan and in peacekeeping operations worldwide, and during his visit Ch.Hagel will thank Mongolia for its contributions and discuss ways to enhance future United States-Mongolian cooperation.
As one of the world’s fastest-growing economies, Mongolia has a growing stake in stability across the Asia-Pacific region and it expects Secretary of Defense Ch.Hagel will also to discuss regional security matters”.
This is the second visit at the United States Defense Secretary-level to Mongolia since 2005, when the first official visit was conducted by then U.S. Defense Secretary Donald Rumsfeld on October 22, 2005. The visit was aimed to elevate the Tavan Tolgoi Training Center into a "peacekeeping center of excellence", whilst the United States had been participating in the Khaan Quest multinational peacekeeping exercise since 2003.
Shortly after, the U.S. President George Bush, First Lady Laura Bush and Secretary of State Condoleezza Rice had conducted a historical visit to Mongolia on November 21, 2005.
The latter U.S. Defense delegates’ visit to Mongolia was headed by the U.S. Deputy Under Secretary of Defense James Miller made on May 04-05, 2012. Also, the United States Secretary of the Navy Ray Mabus visited Mongolia to observe the Khaan Quest 2012 in August.
Mongolia and the United States of America have established the diplomatic relations on January 27, 1987.
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Three Projects on Wind Farm Expected Here
Ulaanbaatar, March 28 (MONTSAME) In 2014, some realization might occur within three wind farm projects in the nation, informs the Mongolian Wind Energy Association.
One of them is Aydiner Global LLC of Turkey, who is planning to implement Choir wind farm project in central Gobisumber province. The wind farm will have a capacity of 50 MW and use Vestas 2 MW wind turbines. The Contractor is planning to finance 50%-70% of the project investments estimated at 95 million USD from bank loans, and to put the wind farm into service in 2016. The wind farm is expected to annually give electricity of 137 million KW to the central region via transmission link.
Another project of Sainshand Wind Farm is scheduled to go online late 2015 to produce 190 GW hours of electricity a year. Well known for its rich underground deposits of coal, copper and gold, Mongolia’s sun-parched, wind-raked Gobi desert also has considerable potential for renewable energy. Ferrostaal Industrial Projects GmbH, a German industrial services company, will take a major stake in this 52 megawatt wind farm project planned for a remote city in Mongolia’s Gobi.
Mongolia anticipates that by 2020, a fifth of its energy will come from wind power. Last year, Mongolia opened its first wind farm, a 50 megawatt facility at Salkhit, located 70 kilometers south of Ulaanbaatar.


“Eureka” Scientific Conference Approaching
Ulaanbaatar, March 28 (MONTSAME) The "Eureka" annual scientific conference of young teachers and students will run April 16 in the State House.
The action will bring together best students and teachers from universities and institutes who are qualified from the first-round competitions for scientific reports.
For the time being, the Mongolian State University (MSU), University of Sciences and Technology, Universities of Humanity and Agriculture have selected their participants to take part in the "Eureka".
Sub-meetings will launch from April 7 under ten topics.


Mongolian Music Band to Tour Country

Ulaanbaatar, March 28 (MONTSAME) Mongolian pop opera group "Overture" is planning to begin its tour across the country this April, in celebration of its 5th anniversary.
So far announced tour stops of “Start with no Ending” tour include Zuunkharaa town (April 12), Darkhan city (April 13), and Erdenet city (April 14).
The organizers of the concert tour are the Anir Recording Studio and the State Bank of Mongolia. The Mongolian Military Ensemble will join the band in the tour concerts which are expected to continue in eastern provinces during this summer.


Amka and Three Golden Rules

Ulaanbaatar, March 28 (MONTSAME) A Mongolian film "Amka and the Three Golden Rules" by Babar Ahmed has been included in program of the 38th Cleveland International Film Festival running through March 30 in Downtown Cleveland, the US Ohio.
The 86-min film was screened in Mongolian with English subtitles three times on March 22, 24 and 27, during the largest film festival in Ohio that consists of more than 170 feature films and 160 short films from 60 countries.
The film also will be screened November 7-9 at Boston International Kids Film Festival that features nearly 50 films that are by, for and about children, including features, documentaries, shorts and international films.
"Amka and the Three Golden Rules" is about a 10-year old orphaned boy (stunningly embodied by the young T.Ganzorig) who collects cans to make money to feed his sister and keep his family clothed and fed in their yurt in rural Mongolia.


Civil Aviation Authority of Mongolia tops corruption research

March 28 (news.mn) Joint research conducted by the Anti-Corruption Authority of Mongolia and “MDS”, a private law firm, reveals that one in every 200 civil servants has committed corruption. 
It is believe that the reason why there is not a reduction in corruption cases is that that entities and organizations spend no budget to fight against corruption. 
The joint research by the Anti-Corruption Authority of Mongolia and “MDS” involved 50 state agencies and organizations. According to the research, which is designed to study how civil servants are corrupt, 24 civil servants were connected to 16 corruption cases. In particular, civil servants of the Civil Aviation Authority of Mongolia were mostly connected to corruption cases according to the research. Last year only, five civil servants of the Civil Aviation Authority of Mongolia were connected to corruption cases. 
Civil servants of the Mineral Resource Authority of Mongolia, the Petroleum Authority of Mongolia and the General Department of Taxation were convicted in corruption cases.  


There are three stocks to watch this year: Turquoise Hill, Remicon and BD Sec 

March 28 (Mongolian Economy) Turquoise Hill 
Turquoise Hill (TRQ: TSX, NYSE & NASDAQ) has been and will be the most important stock for investors with a keen eye on Mongolia. 
TRQ is an international mining company with a focus on copper, gold and coal mines. 
This includes: 
          A 66% interest in Oyu Tolgoi (OT), one of the world's largest copper-gold-silver mines now producing and shipping concentrate to China.
          A 56% interest in Mongolian coal miner South Gobi Resources (SGQ: TSX, 1878: HK), which is expanding production and exports to China.
OT is by far the most important asset for TRQ because of its massive potential once in full operation. The coal assets owned by SGX were fairly attractive for investors in 2011 when  the price of coal was higher and there was a huge appetite for coal from China. However, this is no longer the core asset for the company.
Furthermore, Rio Tinto, the majority shareholder of TRQ has invested USD 7 billion so far together with TRQ since 2010 when its Investment Agreement with the Government of Mongolia was signed. Rio Tinto has tried to convince the Government of Mongolia to formulate a consortium for the project finance and to invest another few billion USD to develop the underground mine of OT. This issue has not been resolved as yet.  
This further development of underground mine shaft will account for about 80 percent of the value of the project; the delay of the project finance will impact significantly to the Net Asset Value (NAV) of the company. Therefore, analysts have lowered the price target of the company in the last two years. This has seen the share price of TRQ decline by more than 80% since its peak. 
Since the starting production on its open pits mine, OT’s 2013 gross revenues were USD 55 million on sales of 26,400 tonnes of concentrate. For 2014, OT has a target production of 150,000 to 175,000 tonnes of copper in concentrates and 700,000 to 750,000 ounces of gold in concentrates. However, because of the very high level of inventory and weaker copper price in the first quarter of 2014, achieving the target for this year looks challenging. 
Even with the uncertainties, we believe the current share price of less than CAD 4.00/share is quite attractive for investors. The resolution of TRQ dispute with the Government will be the most important positive catalyst for the share price. 
However, in the near term, the delay means the loss of few hundred million USD in tax revenues.  Because of this concern investors have been selling Mongolian Tugrug heavily since the second half of 2013. At the same time, the delay will discourage foreign investors’ sentiment and decrease FDI; foreign investors are not confident on investing in countries where a big company like Rio Tinto is struggling to negotiate with the Government. Therefore, the share price may consolidate further for the time being.
The prolonged negotiations have proved how difficult it is to reach mutual understandings. 
With the launch of the new Investment law, the Government of Mongolia is trying to bring more investments from abroad. However, FDI will not increase so much until the issue will be resolved with Rio Tinto. We still hope that both parties will agree at the end with the leadership and commitment of both parties. 
RMC
Established in 2008, Remicon is Mongolia’s third largest concrete producer and is publicly traded on the MSE under the symbol MO:RMC, with a market cap of USD 6.8 million. We think RMC is a very cheap stock, as it trades for 5.5 times trailing earnings and is currently 1.1 times price/book value.
Mongolia still imports approximately 70% of its concrete consumption from China, which gives local producers a significant opportunity for organic growth. The rail network between Mongolia and China has been at 100% capacity since 2006, so China is at its limit in its ability to supply the market with concrete – demand has grown 370% since 2009. 
Remicon also owns all of its equipment and enjoys a logistical advantage over its competitors, as its facilities are only 12 kilometres from central Ulaanbaatar. Comparatively, its peers, whose facilities are far from UB, also have to rent equipment. 
Mongolia’s emerging concrete industry has an addressable market, which goes far beyond real estate development in Ulaanbaatar. As Mongolia continues to build infrastructure, RMC will find opportunities in supplying projects for road and highway construction, energy and power, along with manufacturing and industrial expansion. Recently, Mongolia announced an MoU with China’s Sinopec for four coal and gas plants worth USD 30 billion. Funding for this project would be provided by the Chinese, who are eager to find cleaner energy alternatives, as their major cities are suffering from emergency level pollution. The feedstock for these plants is low quality brown coal, which Mongolia has in an incredible abundance. Mongolia expects feasibility studies to be completed by September 2014 and construction to start by 2015. The construction of these various projects would require a tremendous amount of raw materials, concrete included. No company is in a better position to benefit from the coming infrastructure boom than Remicon, in our view.
BDS
BDSec JSC was established in 1991 and is both the oldest and most dominant brokerage and investment bank in Mongolia. BDSec is the only publicly traded financial company on the MSE and trades under the symbol of MO:BDS. BDSec’s market share of traded volume on the Mongolian Stock Exchange (MSE) over the last three years is 69% and it has underwritten 75% of primary equity offerings over the last five years. 
BDSec’s market cap is USD 17 million, trades at 25 times its 2012 earnings and 3.7 times its book value. Trading volumes on the MSE have declined significantly since the ill-conceived implementation of the London Stock Exchange (LSE) Millennium IT system in mid-2012 and many brokers have ceased operations, decreasing competitive pressures. In late 2013, the Parliament passed a new Securities Law which corrects many of the problems created by the LSE’s Millennium IT system. The new legislation allows for international custodians to enter the local market, which is a necessary precursor to Mutual Fund money being invested on the MSE. 
Mongolia is currently going about the process of being added to both the FTSE and MSCI Frontier indices, which, if successful, would make Mongolia part of Global Frontier manager’s benchmarks. A close look at the MSE reveals several high quality companies, trading at single digit P/E’s, while growing revenues and earnings at low-mid double-digit rates. Insider ownership on the MSE is extremely high at over 55% and the Government of Mongolia still owns about 20% of the MSE’s market cap. This leaves only about 25% (Approximately USD 230 million) as a free float for investors to buy, which may increase stock prices significantly when large pools of capital decide to allocate funds to MSE listed stocks. BDSec is well positioned to benefit as Mongolia’s capital markets continue to develop. 


Mongolian Economy partners with Dow Jones

March 28 (Mongolian Economy) Dow Jones & Company, a 130-year-old American publishing and financial information firm, has offered to partner with Mongolian Economy. From this point on, stories published in English by Mongolian Economy and MongolianEconomy.mn will be provided to Dow Jones Factiva readers.
Mongolian Economy has signed an agreement of partnership with Dow Jones Factiva where Mongolian Economy agrees to provide them with content on Mongolia to be brought to readers of Dow Jones Factiva around the world.
Dow Jones sought out a professional media partner to provide economic updates on the country because of the world because of the attention Mongolia and its economy have received. Their choice was Mongolian Economy because of our comprehensive research and reporting on Mongolia’s economy, business and society.
Factiva is a business intelligence tool with a vast array of global news, business information and analysis from newspapers, magazines, newswires, trade publications, websites, blogs, and curated social media.
In 2007, Dow Jones acquired Factiva to extend the company’s suite of powerful business-to-business products. Factiva products provide access to more than 36,000 sources (such as newspapers, journals, magazines, television and radio transcripts, and photos) from almost 200 countries in 28 languages, including more than 600 continuously updated newswires. 


Mongolian Nationals to Visit India to Submit Visa Application Form Only Online Effective from April 01, 2014

March 28 (infomongolia.com) The Government of the Republic of India has been completing its final stage to introduce the electronic visa facility or e-visa and one of the steps to eliminate paperwork is to fill out the visa request application online.
In the frameworks, the Embassy of the Republic of India in Ulaanbaatar announces that Mongolian nationals holding Ordinary Passports shall submit its visa application requests only online at http://www.indianvisaonline.gov.in/visa.
Applicants are required to personally bring a “Printout” of the visa application submitted online to the Embassy in Ulaanbaatar along with all other supporting documents.
The new regulation is effective from April 01, 2014 and only online applications shall be considered for Issuance of Visa. 
Mongolian citizens holding valid Diplomatic or Official passports are permitted to visit India visa free and stay up to 90 days within a single entry.
Address:
Embassy of the Republic of India to Mongolia
Zaluchuudyn Urgun Chuluu 10,
Post Box 691,
Ulaanbaatar 14190
Mongolia
Working Hours: 09:00-13:00 & 13:30-17:30
Tel: 976-11-329 522


Ch.Ulaan Receives Chinese Vice Minister

Ulaanbaatar, March 28 (MONTSAME) The Finance Minister Ch.Ulaan received Mr Shi Yaobin, the Vice Minister of Finance of the People's Republic of China on Wednesday.
The sides shared views on an establishment of Asian Investment Bank for Infrastructure, at initiation of Mr Xi Jinping, the President of the People's Republic of China, and its preparation.
This bank is supposed to improve economy of Asian countries and to support infrastructure matters. 
The Chinese Vice Minister proposed that our country participates in this bank project as a founder. 
The Minister Ulaan thanked the Chinese part for this suggestion and said he will give support to this initiative. 


Mongolian Ambassador works in Myanmar

Ulaanbaatar, March 28 (MONTSAME) Ambassador Concurrent and Nonresident of Mongolia to Myanmar Ch.Battomor worked in Myanmar March 25.
He met with the First Speaker of the Lower House of parliament Tura U Shwe Mann and officers of the Myanmar Foreign Ministry to share views on relationship and cooperation between the two countries.
The Ambassador also met with the National League for Democracy chairperson Aung San Suu Kyi and handed her a letter of the President of Mongolia Ts.Elbegdorj.


“PM’s 30 Minutes” Meeting Runs

Ulaanbaatar, March 28 (MONTSAME) The Prime Minister N.Altankhuyag gave a report on works done last month and on works for April at the “PM’s 30 minutes” weekly meeting with the media on Thursday in his office room.
The Premier said the cabinet worked every Tuesday and Thursday over the projects on supporting export and import-substitution industrialization, "from next week, we will consider every project". "We have offered the 888 selected projects to commercial banks, so the project authors should now go to these banks, if any of them permits, money will be allotted from the Development Bank of Mongolia for implementation of their projects," the Premier said.
Then he spoke about the 5th Mongolian Economic Forum which ended recently. "The previous year’s forum discussed Mongolians brands, this year’s event has focused on what products should Mongolia make. Many companies that had loans from the 'Chingis' bonds have expanded their business, and this I see as the first outcome of the previous year’s forum," the Premier said.
Mentioning that Mongolia imports a major part of construction materials, the Premier said three big construction material factories will be put into use in 2015. The cabinet rendered a financial support to the Khotol’s cement factory from the "Chingis" bonds, and the factory is projected to produce one million tons of cement from this year in its full capability, he noted. Such three factories will open soon in Dornogobi, he said.
The Premier said 25 billion togrog have been spent for erecting diagnostic centers in 11 aimags from the PM’s package of MNT 50 billion. These centers will open next week.
The PM also talked about roads to be run to several aimags' centers, a programme on preparing qualified workers, measures for reducing air pollution, new model soums in Bayankhongor aimag and augmenting a coal export.    


Premier to Work in Eastern Provinces

Ulaanbaatar, March 28 (MONTSAME) The Prime Minister N.Altankhuyag is planning to work in eastern provinces of Khentii and Gobisumber from March 31 to April 2.
During his visit to Khentii, Mr Altankhuyag will attend a foundation stone laying ceremony launching a "Thousand apartments" project, which will be implemented within the "New Soum" program of the Government and under a funding from the Government bonds capital. The PM will also take part in online synchronized openings of 11 medical diagnosis centers equipped up with the latest hi tech in provinces on March 31.
After this he will head for Gobisumber province. 


Mongolian Politicians Visit Germany

Ulaanbaatar, March 28 (MONTSAME) A Mongolian delegation led by Secretary-General of the Mongolian People’s Party J.Monkhbat is visiting Germany by invitation of the Social Democratic Party (SDP) and Friedrich Ebert Foundation of Germany.
Monkhbat met with Thomas Meyer, a professor of political science at the Dortmund University of Technology and author of "The Theory of Social Democracy" book to talk about social democratic policies and challenges. He also met with Felix Porkert and Franz Danner from the International Department of SDP.
The delegation includes representatives of two other left-wing political parties such as Civil Will and Green Party.
During their week-long visit, the delegation will conduct a series of meetings with German parliamentarians and government members to share experiences.


Roundtable Meeting Held on Policy and Activities Combating Illegal Logging

Ulaanbaatar, March 28 (MONTSAME) This action ran Thursday in the State House, co-organized by the parliamentary Standing committee on environment, food and agriculture and the Ministry of Environment and Green Development.
It was chaired by G.Bayarsaikhan, a head of this Standing committee.
Head of the Ministry’s Regulatory Department of Policy Implementation B.Gantulga delivered a report on the theme, followed by section head of the General Agency for Specialized Inspection (GASI) D.Tserendash with "Implementation of the forest law" report and by officer of Investigating Department Lieutenant-Colonel S.Bayanmonkh with report on present and future actions against illegal logging.
The Minister of Environment and Green Development S.Oyun and related officials exchanged views.
As of today, the total area of forests is 18.5 million hectares accounting for only 11.79% of the country’s territory. The illegal logging declined 31.5% in the last five years, but the situation is still intense. However, Dr Dashzeveg does not agree with the decrease saying that it is impossible to reduce this crime due to many uncontrolled paths and roads. He criticized the insufficient inspection over the illegal logging, and proposed creating a related foundation.
It is vital to refresh connections of activities of NGOs in order to stop the illegal logging, people and enterprises who reveal/detect the illegal actions should be awarded, the Standing committee head G.Bayarsaikhan said, adding the committee will pay attention to altering related laws and regulations on forest. 


International Conference on Arbitration Held

Ulaanbaatar, March 28 (MONTSAME) An international conference on arbitration was co-organized by the Ministry of Justice, the U.S. Agency for International Development (USAID) and Mongolia’s International and National Arbitration Center (MINAC) on March 27-28.
The conference brought together Kh.Temuujin, the Minister of Justice, representatives, lawyers, advocates and judges from the Mongolian National Chamber of Commerce and Industry (MNCCI), USAID and US Commercial Chamber in Mongolia.
The gathered emphasized that the arbitration can be developed intensively in a short time because it does not need much money. They also introduced to each other the latest and the best international regional experiences, and expressed a intention to draw up a recommendation on realizing an arbitration reform.
Mongolian parliament passed the arbitration law in 2003, only 45 cases have been tackled by this law since then.


Mongolia Participates in International Trade Fair

Ulaanbaatar, March 28 (MONTSAME) Mongolia has participated in the “Messe-Erfurt” international trade fair for riding, hunting and fishing as a guest, for the first time.
Addressing the opening ceremony, the Charge de'Affairs of Mongolia to Germany and economics adviser D.Battor underlined the 40th anniversary of diplomatic relations establishment between Mongolia and Germany and invited all the participants to Mongolia. He also said that our country has many opportunities to cooperate with Germany not only on its federal but also on states' level.
In frames of the measure, the Embassy's delegation met with governor of Thuringia, a Federal state, to exchange views on the cooperation.


MNOC Executive Council Meets

Ulaanbaatar, March 28 (MONTSAME) Executive Council of the Mongolian National Olympic Committee (MonNOC) Thursday held its meeting in the Olympic House.
The meeting discussed the 2014 budget and plans of the MonNOC, programmes to be co-implemented with the International Olympic Committee (IOC) and results of Mongolian team participating in the Sochi 2014 Winter Olympic Games.
It also considered working out a special programme on making winter sports public, cooperating with state organizations and NGOs in this matter, and backed initiatives of the President on hosting the Ulaanbaatar 2040 Summer Olympic Games and the 2019 East Asian Youth Games. These issues will be conveyed to the government.
A member of the MonNOC Executive Council Ch.Zorigtbaatar has been appointed the Chef-de-Mission of the Nanjing 2014 Youth Olympic Games for the Mongolian national team; B.Bat-Erdene MP--of the Incheon 2014 Asian Games; and J.Khatanbaatar--of the Phuket-2014 Asian Beach Games.


Drama Theater Releases April Program

Ulaanbaatar, March 28 (MONTSAME) The State Academic Drama theater has released its program for this April.
Three plays such as "The Crow’s Grove" by Alexander Vampilov (April 10), "Sorry, Wrong Number" by Lucille Fletcher (April 30) and "Buuvei" (Lullaby) by N.Gankhuyag (April 24) will be premiered in the theater. It will also stage two classic tragedies such as Oedipus by Sophocles and Hamlet by Shakespeare. The Mongolian children’s play "Adventure of school boy Norov" can be seen April 2-4 and 20.


Mongolian Circus Attracted 14 Million in Cheju

Ulaanbaatar, March 28 (MONTSAME) Culture, Sports and Tourism Minister Ts.Oyungerel met with G.Baatarkhuu, a leader of a Mongolian circus performing in S.Korean Cheju Island.
Mr Baatarkhuu recently received a state high award in recognition of his great efforts to promote Mongolian circus abroad. His circus has been performing in Cheju for 13 years, attracting some 14 million viewers so far.
The program includes horsemanship display show of two dozens of performers, contortion, acrobatics, gymnastics, jugglers and strongmen performances.

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