Kazakhstan and Mongolia Aim to Boost Trade Turnover to $500M

Deputy Prime Minister - Minister Of National Economy Of Kazakhstan Serik Zhumangarin Held A Meeting With Deputy Prime Minister Of Mongolia Khassuuri Gankhuyag, Qazinform News Agency Reports.

Zhumangarin congratulated his counterpart on his appointment to a high government position and emphasized Mongolia’s importance as a partner in the Asian region. He noted that bilateral cooperation is rooted in mutual respect and trust, with trade and economic ties forming the foundation of the partnership, The Caspian Post reports, citing Kazakh media.

It was noted that the two countries’ presidents set a goal to raise bilateral trade turnover to $500 million in a mid-term outlook. Both sides expressed confidence in achieving this target by expanding the range of mutual supplies, launching joint projects and gradually removing trade and administrative barriers.

Between January and November 2025, trade turnover reached $121.5 million (+5.5%), including $113 million in exports from Kazakhstan and $8.6 million in imports from Mongolia.

Kazakhstan mainly exports tobacco products, rapeseed, bread, flour, confectionery, foodstuffs, oilseeds, engines and engineering goods to Mongolia.

Imports from Mongolia include meat and meat products, cashmere, footwear, carpets, and wool products.

To further strengthen trade, Kazakhstan plans to send a trade mission to Mongolia to establish direct business contacts and showcase its industrial and free economic zones and export potential.

Agriculture was highlighted as a promising area of cooperation, with discussions on expanding exports of Kazakh agricultural products and supplying veterinary vaccines and possible localization of their production in Mongolia.

Gankhuyag underscored Kazakhstan’s strategic role as a regional partner for Mongolia. He expressed confidence in the intensification of bilateral cooperation in the current year and also emphasized Kazakhstan's role as a link between Mongolia and the countries of Central Asia. He proposed to establish a joint working group to identify and eliminate non-tariff barriers.

The Mongolian side also expressed interest in deepening cooperation in the field of standardization, veterinary protection and animal husbandry.

Following the meeting, the parties reaffirmed their commitment to further developing constructive and mutually beneficial cooperation.