Thursday, June 12, 2014

Mongolia will annually export 3 million EUR in textile products

Representatives of national industry called a press conference at Mongol News press agency about a huge investment in the textile industry, namely the establishment of a partnership contract. The agreement calls for an annual three million EUR in Mongolian exports.

As of today, a total of 450 textile factories are operating in Mongolia. Before soft loans from the Chinggis Bond for equipment and facilities were granted to textile factories, the Mongolian textile industry had been operating without any support. However, the Poland-Turkey joint company Rubin has agreed to buy textile products from Exclusive, a Mongolian company, and agreed to buy textile products worth three million EUR annually. Ilhan Erden, the president of Rubin, signed the contract during his visit to Mongolia, and agreed to buy the first portion of textile products in October.

For the three million EUR, Rubin is buying mainly jackets. A Mongolian company is now becoming an executive company of a foreign brand, and products made in Mongolia will be sold in the international market.

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