Mongolia Brief December 23, 2014 Part II
Mongolia
and Japan to Establish Economic Partnership
Agreement
in First Half of 2015
December 23 (infomongolia.com)
On December 22, 2014 the regular Cabinet meeting was held and one of the issues
discussed and resolved was to renew members of Mongolia’s working group to
establish Economic Partnership Agreement (EPA) with the Government of Japan.
President of
Mongolia Ts.Elbegdorj during his visit to Tokyo reached a negotiation with the
incumbent Prime Minister of Japan Shinzo Abe to establish the EPA between the
two countries and signed a Joint Statement on July 22, 2014. Since then
affiliated organs of the two parties have been working on intergovernmental
agreement coordinating the legal frames and other issues.
The working
group of Mongolian side has been chaired by former Deputy Minister of Economic
Development, but due to recent changes in the government structure, where the
Ministry is no longer exist, it was necessary to renew the group members, which
was agreed at the Cabinet meeting.
At the meeting,
members of Cabinet heard comprehensive report on ongoing procedure of the EPA
and resolved to renew the group members. According to negotiations, Mongolia
and Japan agreed to establish the Economic Partnership Agreement in the first
half of 2015 and therefore, the new group is responsible to accomplish
preparations.
Under the EPA,
Mongolia to export textile products, leather products, some types of shoes and
some food products at preferential tariffs, and to import advanced techniques
and technology as well as introduce Japanese know-how and boost business
partnership between the entrepreneurs of the two countries.
Related:
Mongolia
to Build Economic Partnership with Japan – Montsame, December 23
Mongolians
to Have Four-Day Holiday through Thursday and Sunday on January 01-04, 2015
December 23 (infomongolia.com)
At the Cabinet meeting held on December 22, 2014, it was resolved to move a
working day of January 02, 2015 that falls on Friday to next Saturday, January
10, 2015.
According to
Labor Law of Mongolia, Article 77.3, it is cited if a public holiday falls on
any day close to weekend, the Cabinet is authorized to make changes.
Therefore,
Mongolians to have a four-day holiday through Thursday and Sunday, because the
January First as celebrated as public holiday falls on Thursday in 2015.
Moreover, the
December 29th is also a public holiday commemorates as the Independence Day and
this year, the day occurs on Monday, thus working days next week are Tuesday
and Wednesday only.
Related:
Public holiday announced for
January 1st and 2nd – news.mn, December
23
Tavan
Tolgoi bidder selection announced
December 23
(news.mn) Bidder selection for development of the massive Tavantolgoi coal
deposit has been announced.
In Monday's TT
tender working group meeting, financial proposals submitted by the Peabody
Energy Corporation and a consortium of China's Shenhua Energy, Japan's Sumitomo
Corporation, and Mongolia's Energy Resources LLC, which passed technical
proposal approval requirements, were introduced.
The three-party
consortium received the highest score and won the bid to develop the Tavan
Tolgoi coking coal deposit. The winning bidder will invest in the deposit and
its development but the ownership will remain under the Government of Mongolia.
Thermal
Power Plant IV will provide 250,000 households with electricity
December 23
(news.mn) Thermal Power Plant IV has successfully carried out a project to
increase its power capacity. The power plant will be able to provide 250,000 new
households with electricity and 15,000 households with heating in Ulaanbaatar.
City
administrators believe that the city will have an efficient source of
electricity and heating across the city through 2017.
The new
turbines installed were funded by 70 million MNT from the government budget and
Development Bank of Mongolia. It is estimated that it the plant will earn an
annual 25.8 billion MNT in real income for the state budget due to tariffs
currently set.
CEO of Thermal
Power Plant IV State Owned Company J.Osgonbaatar said that the Thermal Power
Plant will cover the cost of investment within 4 to 7 years.
The extension
of Thermal Power Plant IV involved over 300 staff, including 150 Russian
specialists, and required the installation of over 350 pieces of equipment and
facilities with the help of 71 heavy machines, 55 wagons, and planes.
U.Khurelsukh
receives Ambassador of China
By B. Khuder
Ulaanbaatar,
December 23 (MONTSAME) The Deputy Premier U.Khurelsukh Tuesday received Mr Wang
Xiaolong, the Ambassador Extraordinary and Plenipotentiary of the People’s
Republic of China to Mongolia.
The
Mongolia-China relations and cooperation are developing in its important
period, Khurelsukh said, and underlined Mr Wang Xiaolong has significantly
contributed to bringing the ties into the present level. He emphasized an
importance of realizing works which were concurred during the state visit of
the PRC President to Mongolia.
“The trade and
economic cooperation is a pillar of the friendly relations between our
countries. It is necessary for both countries to make efforts for intensifying
implementation of the biggest economic projects and for improving a structure
of the bilateral trade,” Khuresukh said, underlining a priority of developing
the collaboration in the infrastructure, mining and transit transport sectors.
The Ambassador
supported the Deputy PM’s views, and pointed out the countries are necessary to
maintain a frequency of high-level mutual visits. He said that the government
of China is ready to cooperate with the new cabinet of Mongolia.
New
airport to be connected to Ulaanbaatar
By B.
Amarsaikhan
Ulaanbaatar,
December 23 (MONTSAME) On the Cabinet meeting of December 22, the Minister of
Road and Transport N.Tomorkhuu gave a status report on the implementation of
“Ulaanbaatar Logistics Center for Mixed Transport” project.
He said that
pre-feasibility study has been developed on the building of railroad connecting
the new airport which is being constructed in the Khoshig valley to the station
of Maanit. This connection is called “Bogdkhan” railroad.
Transit and
other freights will be carried by this new railroad and the rails within
Ulaanbaatar will be used for public transport.
Ulaanbaatar
Logistics Center for Mixed Transport is to be erected in front of the new
airport, occupying a space of 400 hectares.
D.Khayankhyarvaa
becomes deputy head of DP faction
By B. Khuder
Ulaanbaatar,
December 23 (MONTSAME) A member of the State Great Khural (parliament) D.Khayankhyarvaa
was elected as deputy head of the Democratic Party (DP) in accordance with a
decision made at the DP faction meeting held Tuesday.
D.Khayankhyarvaa
replaced D.Oyunkhorol MP, who recently has been elected as the Minister of
Environment, Green Development and Tourism.
In addition,
the DP faction decided at its meeting to nominate S.Batbold MP for the position
of head of the parliamentary Standing committee on environment, food and
agriculture; J.Enkhbayar MP--head of the Standing committee on security and
foreign policy; and J.Batsuuri MP--head of the Standing committee on economy.
Mongolian-French
Intergovernmental meeting results examined
By B.
Amarsaikhan
Ulaanbaatar,
December 23 (MONTSAME) Results of the Second meeting of the Intergovernmental
Working Group of Mongolia and the French Republic held on December 8 were
discussed on the Cabinet meeting Monday.
The Minister of
Foreign Affairs L.Purevsuren presented the results. The meeting which was held
on the occasion of the 50th anniversary of the diplomatic relations between the
two countries discussed the bilateral trades, economic relations, and
cooperation in the priority sectors such as energy and agriculture, said the
Minister.
Stock
Exchange news for December 23
By B. Khuder
Ulaanbaatar,
December 23 (MONTSAME) At the Stock Exchange trades on Tuesday, a total of 183
thousand and 863 thousand units of 17 JSCs were traded costing MNT 883 million
828 thousand and 139.
"Asia
Pacific Properties” /175 thousand and 260 units/, “Merex” /2,000 units/, “Khokh
gan” /1,000 units/, “Genco tour bureau” /178 units/ and "Arig gal” /131
units/ were the most actively traded in terms of trading volume, in terms of
trading value were "Asia Pacific Properties” (MNT 432 million 892 thousand
and 200), "Tavantolgoi” (MNT 320 thousand), “Arig gal” (MNT 307 thousand
and 850), “APU” (MNT 243 thousand and 815) and "Ereentsav” (MNT 200
thousand).
The total
market capitalization was set at MNT one trillion 405 billion 795 million 511
thousand and 136. The Index of Top-20 JSCs was 14,483.69, increasing 8.49 units
or 0.06% against the previous day.
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