Mongolia opens capital consulate

THE sprawling central Asian state of Mongolia is stepping up its drive to entice Scottish companies to invest in its rapid economic expansion by opening a consulate in Edinburgh today.

The Mongolian ambassador Bulgaa Altangerel will unveil the flag at the Melville Street property in the centre of the capital's diplomatic quarter.

David Scott, honorary consul for Mongolia, said it would provide a base to meet people and hold functions.

The country recorded economic growth of 17.3% in 2011, up from 6.4% in 2010 on the back of demand for commodities.

Economic activity in Mongolia has long been based on herding and agriculture, but it has seen a mining boom in recent years as demand for products such as copper has increased.

Mr Scott led a trade delegation to Mongolia earlier this year. He is preparing for another trip in September. Some 12 delegates are expected to attend from sectors including the salmon industry, whisky, and renewable energy.

Glasgow University recently signed a memorandum of understanding with the National University of Mongolia which could pave the way for Mongolian students to come to Glasgow.

Mongolia has vast mineral resources yet to be fully exploited and a ready market in neighbouring China. The International Monetary Fund expects growth to average 14% a year until 2016.

Comments

Popular posts from this blog