Mongolia Roundup: E-visas, agricultural exchange, legal assistance agreement

Nearly 1,900 e-visas issued in February

In February 2024, Mongolia issued 1,897 e-visas to foreigners, marking a significant increase from previous years. The Immigration Agency of Mongolia processed 8,607 requests and assisted 5,772 citizens, showcasing the effectiveness of digitalization in service delivery. Additionally, the agency granted residence permits to 23,555 foreign citizens and initiated the issuance of residence cards for foreign citizens independently, demonstrating Mongolia's commitment to enhancing accessibility for foreigners. The digital service system processed a total of 115,211 requests in 2023, indicating a streamlined and efficient process, VisaGuide reported.

Belarusian agricultural exchange plans

The Belarusian Universal Commodity Exchange is poised to expand its exports of dairy products and sugar to Mongolia, as evidenced by its first successful transaction of selling 1,400 tonnes of sugar to a Mongolian resident for $771,000. Efforts to attract buyers for milk powder and butter further highlight the growing trade relations between Belarus and Mongolia. Non-resident companies purchased substantial quantities of sugar and butter at exchange auctions in January-February 2024, underlining the increasing trade activity between the two nations, according to BelTA.

Cuba-Mongolia legal assistance agreement

Cuba and Mongolia are set to form a legal assistance agreement to enhance citizens' legal security and foster stronger bilateral relations during an upcoming visit by a Mongolian delegation to Havana. Prensa Latina reports that both parties have expressed keen interest in deepening cooperation, with the Mongolian Minister of Justice affirming the commitment to developing collaboration and the Cuban Embassy reiterating its willingness to strengthen bilateral ties.

Foreign exchange reserves

Mongolia's foreign exchange reserves reached $5.016 billion as of March 15. This growth can be attributed to improved foreign exchange inflows and successful management of foreign trade balance. The Central Bank of Mongolia's significant increase in the purchase of precious metals and successful refinancing of foreign bonds have contributed to reducing the country's external payment burden, positioning Mongolia favourably in the global economic landscape, AKIpress reported.

Forecasted mass deaths of livestock

The Mongolian government has forecasted a severe impact on the economy, with a prediction of 16 million livestock deaths due to harsh winter conditions. This prediction has significant implications for nomadic pastoralism, a crucial sector of Mongolia's economy, which currently supports 64.7 million livestock. According to AKIpress, nearly 4 million animals have perished due to dzud as of March 15, underscoring the severity of the situation and the need for strategic interventions to mitigate the economic impact.