ASTANA, Kazakhstan, January 24. Kazakhstan and Mongolia are aiming to increase their bilateral trade turnover to $500 million in the medium term, Trend reports via the Kazakh government.
This was discussed during a meeting between Kazakhstan’s Deputy Prime Minister and Minister of National Economy Serik Zhumangarin and Mongolia’s Deputy Prime Minister Khassuuri Gankhuyag.
The sides expressed confidence that this target can be achieved through expanding the range of mutual supplies, developing cooperation projects, and gradually removing trade and administrative barriers.
It was noted that in January-November 2025, trade turnover between Kazakhstan and Mongolia amounted to $121.5 million, showing a 5.5% increase year-on-year. Kazakhstan’s exports reached $113 million, while imports stood at $8.6 million. Kazakhstan mainly exports tobacco products, rapeseed, bread and confectionery products, foodstuffs, and oilseeds, as well as engines and engineering products. Imports from Mongolia include meat and meat products, cashmere, footwear, carpets, and wool products.
To further boost trade, the Kazakh side plans to send a trade mission to Mongolia to establish direct business contacts and present Kazakhstan’s industrial zones, special economic zones, and export potential.
The parties also highlighted strong potential for cooperation in agriculture. Discussions covered opportunities to expand exports of Kazakh agricultural products, as well as prospects for supplying veterinary vaccines, including possible localization of their production in Mongolia.
Kazakhstan and Mongolia enjoy robust relations, formalized as a strategic partnership in 2024, underpinned by shared history and cultural ties. Their cooperation spans political, economic, and security areas, with a focus on enhancing trade—targeting a turnover of $500 million, emphasizing key commodities like agricultural products and oil from Kazakhstan and meat and cashmere from Mongolia. Key sectors of collaboration include technology, agriculture, and inter-parliamentary exchanges, with agreements to expand regional cooperation and initiatives like satellite exports.
According to the country's Bureau of National Statistics, Kazakhstan's overall foreign trade turnover for the period amounted to $128.8 billion, reflecting a marginal 0.1% decline from the previous year. While exports fell by 4.2%, totaling $71.14 billion, imports rose by 5.5%, reaching $57.67 billion.
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