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Turkey and Mongolia to increase trade volume

Turkish State Minister Hayati Yazici said yesterday that the government expects to increase trade volume between Turkey and Mongolia to $50 million within the next three years. Yazıcı said the trade volume, which was only $3 million in 2004, had reached $10 million in 2007.

At the fifth Turkey-Mongolia Joint Economic Commission meeting in Ankara, Yazici noted that the trade volume between the two countries rose 90 percent to $12 million in January-September 2008 when compared to the same period in 2007.

The minister said that an industrial zone focusing on leather manufacturing was going to be established in Mongolia and that the Turkish government would look at investment in similar projects.

Mongolian Environment and Tourism Minister said Mongolia wanted to increase its cooperation with Turkey, adding that tourism, agriculture and infrastructure are among the sectors in which the two countries could work together and increase relations.

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