Kazakhstan and Mongolia Foster Investment Deals, Boost Parliamentary Collaboration
Kazakhstan and Mongolia Strengthen Ties in Historic Meeting
In a significant step towards strengthening bilateral relations, high-level delegations from Kazakhstan and Mongolia met in Astana, Kazakhstan on September 4. The meeting, which was attended by Alibek Kuantyrov, Deputy Foreign Minister of Kazakhstan, Gabidulla Ospankulov, Chairman of the Investment Committee, Dashzegviin Amarbayasgalan, Chairman of the State Great Khural of Mongolia, and members of the Mongolian parliamentary and business delegation, marked a new chapter in the cooperation between the two nations.
The talks focused on enhancing economic ties, with Mongolia expressing its commitment to increasing bilateral trade volume to $500 million in the coming years. This ambition aligns with Kazakhstan's ongoing democratic transformations since 2022. Yerlan Koshanov, Chairman of Mazhilis, highlighted similarities in political reforms, mentioning that Mongolia's recent parliamentary elections adopted a mixed electoral system, bringing five parties into parliament for the first time.
Both countries see strong opportunities for cooperation in agriculture, trade, and industry. To boost this collaboration, Kazakhstan introduced its three-tier investor support model, including a mechanism to attract major international companies and an investment request system aligned with regional and sectoral priorities. Mongolia emphasized the importance of sharing experience in attracting foreign capital and creating favorable conditions for joint projects.
The meeting also saw the signing of an agreement to establish fraternal relations between the East Kazakhstan region and the Mongolian Khovd province. This agreement opens new opportunities for cross-border cooperation. To strengthen parliamentary engagement, the sides agreed to strengthen the work of friendship groups and enhance cooperation within international forums, including the Inter-Parliamentary Union and the OSCE Parliamentary Assembly.
In addition, both parties signed a memorandum of cooperation between the Mazhilis and the State Great Khural to enhance political, trade, scientific, and cultural ties, as well as collaboration in innovation and digitalization. The Mongolian delegation held talks with Yerlan Koshanov, Chairman of Mazhilis, focusing on strengthening bilateral cooperation in trade, investment, and economic development.
Several Kazakh companies are exploring opportunities to enter the Mongolian market through production and trade. The discussions and agreements reached during this historic meeting are expected to facilitate a significant increase in trade and investment between the two countries in the coming years.
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