Companies told to conquer Mongolia.
IT MAY be more well-known for yaks, barren landscapes and a certain Genghis Khan, but West Midland firms are being encouraged to develop ties with Mongolia as export bosses seek to cash in on predicted growth.
UKTI's international trade team in Birmingham is to lead an Explore Mongolia seminar next month, to help firms do business with the East Asian country expected to be the fastest growing economy in the world over the next two decades.
The country's importance was highlighted by a visit from Foreign Secretary William Hague last month on the back of a flourishing mining sector, particularly for copper and coal, which accounts for almost 22 per cent of its GDP.
Jonathan Webber, head of UKTI's international trade team in Birmingham, said: "There are many reasons why the world is suddenly waking up to the opportunities that abound in Mongolia and why West Midlands companies need to make sure they don't lose out.
"For starters, Mongolia is expected to be the fastest growing economy in the world over the next two decades, with GDP per capita looking like it will more than quadruple by 2020. In 2012 it grew by 12.3 per cent and in 2013 it's expected to grow by up to 12 per cent, potentially doubling in 2014."
The Explore Mongolia seminar takes place on Thursday, November 14, at Edgbaston Stadium. Contributing to the seminar will be a variety of experts from the British Embassy, Mongolia's capital Ulaanbaatar, the Mongolian Embassy, London and UKTI West Midlands. It is part of Export Week, from November 11 to 15, which will also see UKTI organise a ExploreExport Roadshow across the region.
Genghis Khan and the equestrian statue, the largest in the world, near Ulaanbaatar, Mongolia
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|Publication:||Birmingham Mail (England)|
|Date:||Nov 1, 2013|
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