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Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Franziska Brantner will be visiting Mongolia from 6 to 7 June 2023 to hold talks on economic and raw materials policies. She will be accompanied by representatives of German companies from sectors such as raw materials, renewable energies and mechanical engineering.
Franziska Brantner said: "Mongolia is an important partner for us in east Asia. Having a wealth of natural resources, Mongolia also plays a key role in the context of the Economic Affairs Ministry’s strategy for the diversification and sustainability of our supply chains. The basis for our cooperation is the raw materials partnership between our two countries that was established in 2011. The aim is to advance specific and viable projects together with Mongolia."
Mongolia, which had close relations with the former Soviet Union until the end of the Cold War, experienced a peaceful transition to a parliamentary democracy after the collapse of the Soviet Union. It maintained close ties with the former GDR. This explains why a part of the population still has good German language skills. The Mongolian government intends to diversify its economy, which is dominated by raw materials, and to make it more sustainable. In this context, the expansion of the bilateral relations with Germany plays an essential role.
Parliamentary State Secretary Franziska Brantner supports this approach. She said: "We should not restrict our cooperation to the field of raw materials. I rather see a lot of potential for the expansion of renewable energy, energy efficiency, mechanical engineering, collaboration on education and training, and in the field of sustainable tourism. We are all very interested in expanding the economic relations with our Mongolian partners to the benefit of both sides. A diversified and sustainable Mongolian economy strengthens the country’s economic and political stability, reduces its dependency on cyclical fluctuations in the field of raw materials, contributes to the global mitigation of climate change, and can generate additional prosperity for Mongolia’s population. I am delighted that representatives of numerous German companies from a range of sectors are accompanying me during this visit, thus underlining the interest of German business in close cooperation with Mongolia. This requires a stable and reliable business environment in the country."
Mongolia is known for its wealth of raw materials, including copper, gold, and rare earths. The mining industry is the dominant sector, followed by agriculture. In 2021, bilateral trade with Germany totalled around €160 million. In 2022, Mongolia’s economic growth amounted to 2.5%; it is expected to reach 5% in 2023.
Dr Franziska Brantner will sign a joint declaration with the Mongolian government on the continuation of the successful Manager Training Programme to promote business ties between German and Mongolian companies.
Mongolia is severely affected by the impact of global climate change. In the context of the International Climate Initiative (IKI), which is coordinated by the Federal Ministry for Economic Affairs and Climate Action, advice is being provided to the Mongolian government in the field of climate legislation, and projects in the fields of energy efficiency in buildings and renewable energy in the district heating sector are being implemented.
