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.
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.
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.Link to article