Union of Chambers and Commodity Exchanges of Turkey

Opportunities for cooperation between the two countries in the commercial and economic fields were evaluated at the meeting. “Türkiye-Mongolia Chamber of Commerce and Industry Forum Establishment Agreement” was renewed between TOBB and Mongolia National Chamber of Commerce and Industry.

TOBB Board of Directors Treasurer Member Faik Yavuz stated in his speech here that Mongolians and Turks are ancient neighboring nations living at two different ends of Asia and said, “Tourism can be our important cooperation area. The bilateral trade volume between Türkiye and Mongolia is growing, our trade volume, which was 108 million dollars in 2023, increased to 139 million dollars last year. We know that this figure is far below the potential of our countries. Our economies are complementary. There are many opportunities to develop our commercial and economic cooperation. We have serious potential for cooperation in the mining sector, especially in gold, copper, uranium and coal.”

Stating that the agriculture and livestock sectors are also among the opportunities that should be evaluated, Yavuz said that in this context, the leather industry stands out as an important area of cooperation.

Stating that construction is one of the sectors in which Türkiye is strong, Yavuz said, “We would like to show our experience and capacity in this field in construction and infrastructure projects in Mongolia. In 2018, we established the ‘Turkish-Mongolian Chamber of Commerce and Industry Forum’ as TOBB and the Mongolian National Chamber of Commerce and Industry.”

- Minister of Trade Ömer Bolat

Trade Minister Ömer Bolat stated that they are ready to cooperate technically with Mongolia and said, “We believe that there are opportunities for cooperation in the defense industry, clean energy, mining, food processing, tourism, information technologies, film and series sectors.”

In his speech here, Bolat said that this visit of Mongolia to Türkiye with an official and private sector delegation is the most concrete indicator of the strong and developing ties between the two countries.

Stating that this visit was decided at the Shanghai Cooperation Organization Summit attended by President Recep Tayyip Erdoğan in Astana, the capital of Kazakhstan, Bolat said, “We are very happy that this visit was carried out with a large delegation in a short time. The ties between Türkiye and Mongolia do not only belong to trade or the present.”

Bolat pointed out that the two countries have a common historical and cultural heritage and said, “Our country with its rapidly developing economy, strategic location, regional and global influence, and Mongolia with its rich resources, young population and great unexplored potential are natural partners to create a more prosperous future for their people. Together we can realize opportunities that extend beyond borders, connecting not only our two countries but also new markets and regions. For this vision, we must think big and take bold steps.”