ALMATY – Deputy Foreign Minister of Kazakhstan Alibek Kuantyrov and Chairman of the Investment Committee Gabidulla Ospankulov met with Dashzegviin Amarbayasgalan, Chairman of the State Great Khural of Mongolia, along with members of the Mongolian parliamentary and business delegation to discuss investment and trade partnership during a high-level meeting in Astana on Sept. 4.
Photo credit: mazhilis.parlam.kz
The talks focused on strengthening bilateral cooperation in trade, investment and economic development. Both sides highlighted the importance of sharing experience in attracting foreign capital and creating favorable conditions for joint projects, reported the Ministry of Foreign Affairs press service.
“Today’s meeting marks an important step in deepening economic and investment cooperation between Kazakhstan and Mongolia. We see significant potential to expand partnerships in non-resource sectors and stand ready to provide full support to investors,” said Kuantyrov, noting that several Kazakh companies are also exploring opportunities to enter the Mongolian market through production and trade.
Mongolia emphasized its commitment to enhancing economic ties, with Amarbayasgalan noting that the two countries aim to increase bilateral trade volume to $500 million in the coming years.
“Our countries complement each other’s strengths and offer strong opportunities for cooperation in agriculture, trade and industry,” he said.
Kazakhstan presented its three-tier investor support model, which includes a mechanism to attract major international companies, and an investment request system designed to align projects with regional and sectoral priorities.
The Mongolian delegation also held talks with Yerlan Koshanov, Chairman of Mazhilis. 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.
Additionally, an agreement was signed to establish brotherhood relations between East Kazakhstan Region and Mongolia’s Khovd Province, opening new opportunities for cross-border cooperation.
Koshanov highlighted similarities in political reforms, noting that Mongolia’s recent parliamentary elections adopted a mixed electoral system, bringing five parties into parliament for the first time – a move aligned with Kazakhstan’s ongoing democratic transformations since 2022.
To boost 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.
