Ministry of Economy, Trade and Industry
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METI is to Proceed with Cooperation with Mongolia in Economic and Industrial Fields

On June 29, 2015, the Ministry of Economy, Trade and Industry (METI) held the 7th Japan-Mongolia Joint Consultation with the Government and Private Sector in Tokyo. Also, on the same day, Mr. Yoichi Miyazawa, Minister of Economy, Trade and Industry, had a meeting with Mr. Dondogdorj Erdenebat, Minister for Industry of Mongolia, and signed a Memorandum of Cooperation (MOC) for the promotion of industry, trade, and investment.

1. Overview of the Joint Consultation

At the 7th Japan-Mongolia Joint Consultation with the Government and Private Sector (see the reference data below for details), matters concerning strengthening the economic relationship between both countries were discussed by leaders and approximately 170 other participants involved in related public-private organizations from both countries.

Major participants
Japan:
Mr. Yosuke Takagi, State Minister of Economy, Trade and Industry
Mr. Kazuyuki Nakane, Parliamentary Vice-Minister for Foreign Affairs
Mr. Yoichi Kobayashi, Chairman of Japan-Mongolia Economic Committee
Mongolia:
Mr. Dondogdorj Erdenebat, Minister for Industry of Mongolia
Mrs. Oyunchimeg Magvan, CEO of the Mongolian National Chamber of Commerce and Industry

2. Outcome of the Joint Consultation

At the Joint Consultation, Japan explained its small and medium enterprise policy, industrial cluster policy, and coal policy. Mongolia explained its industrial policy, agricultural and livestock policy, coal and mineral resource policy, and energy policy, along with associated issues, its foreign capital attracting policy, and the favorable environment that Mongolia can offer to Japan. In addition, both countries agreed that they would make efforts toward the establishment of a mutually beneficial relationship in the economy with the conclusion of the Japan-Mongolia Economic Partnership Agreement (EPA) and other efforts.

3. Schedule for the next Joint Consultation

The next Joint Consultation is to be held in Mongolia.

4. Signing of an MOC

The purpose of the conclusion of the MOC for the promotion of industry, trade, and investment is to establish mutually beneficial economic relations by promoting trade, investment, and cooperation in industry between both countries prior to the effectuation of the Japan-Mongolia EPA.
This is expected to develop the Japan-Mongolia economic relationship even further.

Reference data: Japan-Mongolia Joint Consultation with the Government and Private Sector

1. Brief history and past consultations

  • In 2007, the basic regular consultation between Japan’s METI and what was then the Ministry of Industry and Trade of Mongolia was upgraded to the Japan-Mongolia Joint Consultation with the Government and Private Sector with participation from private enterprises aiming to increase trade and investment in both countries and to strengthen the cooperative relationship between the two countries. This was based on the descriptions in the Joint Statement and the Basic Action Plan for the Next Ten Years, which were agreed to by the leaders of Japan and Mongolia. The governments and private sectors have subsequently held consultations about bilateral cooperation in regard to trade, investment, mineral resource development, and other matters.
  • The meetings are held alternately in Japan and Mongolia. The first meeting was held in Tokyo in November 2007. This meeting in 2015 is the seventh meeting.

2. Background and purpose of the consultation

  • As for Mongolia, its abundant underground resources have drawn attention, and interest in strengthening the business-oriented economic relationship between private enterprises in both countries has increased with the conclusion of the Japan-Mongolia EPA and other efforts. The government and private sectors of both countries met in order to exchange opinions about the ideal state of cooperation between Japan and Mongolia.

3. Participants

  • Japan: Ministry of Economy, Trade and Industry, Ministry of Foreign Affairs, Incorporated Administrative Agencies, Japan-Mongolia Economic Committee, other private enterprises, etc.: some 90 people in total
  • Mongolia: Ministry of Industry, Ministry of Mining, Ministry of Food and Agriculture, Ministry of Energy, Ministry of Foreign Affairs, Invest Mongolia Agency, Mongolian National Chamber of Commerce and Industry, other private enterprises, etc.: some 80 people in total

Release date

July 1, 2015

Division in Charge

  • Northeast Asia Division, Trade Policy Bureau
  • Natural Resources and Fuel Department, Agency for Natural Resources and Energy (excluding item 4.)

Related Information

Regional Affairs / Mongolia

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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