Deals worth $50 mln signed at Belarus-Mongolia business forum

ULAANBAATAR. Oct 27 (Interfax) - Mongolian and Belarusian companies from the industrial, agricultural, transport and construction sectors have signed agreements on joint investment projects worth $50 million, the Mongolian presidential administration said on its website.

"Companies from both countries signed 17 agreements and memorandums for $50 million as part of the Belarusian-Mongolian business forum in sectors and areas like rail transport, construction, agricultural machinery and equipment supplies and food and dairy product supplies," it said.

The presidents of the two countries, Ukhnaagiin Khurelsukh and Alexander Lukashenko, were quoted as saying in a joint statement following bilateral talks that the deals would speed up development of trade and economic relations and contribute significantly to the creation of a favorable business environment.

"I am confident that the signed documents and the agreements reached will bring tangible economic benefits to both countries and will contribute to the further improvement of the well-being of our peoples," Lukashenko was quoted as saying.

The two leaders signed a roadmap for cooperation in 2027-2029 during the Mongolian president's state visit to Belarus. The document envisages measures to expand and develop cooperation in politics, trade, economics, heavy and light industry, agriculture, forestry, science, education, sports, culture and tourism.

Mongolia's General Customs Administration has said trade turnover with Belarus came to $21.5 million in 2025, including imports of $20 million. Mongolia's main exports are mining products, while its imports include food products, petroleum products and metal products.