Total foreign trade turnover increased by USD 1.3 billion, in which, exports increased by USD 913.3 million, and imports, by USD 431.5 million against the same period of 2016.

In the first half of 2017, foreign trade surplus reached USD 1.2 billion, representing increase of USD 481.8 million from USD 693.3 million in the same period of 2016. The export rise of USD 913.3 million was due to increase of USD 960.9 million in mineral products export, particularly an increase of USD 989.2 million in coal export; however, export of precious metals decreased by USD 100.0 million.

The import increase of USD 431.5 million mainly reflected USD 148.2 million increase in mineral products import, especially, USD 108.0 million increase in diesel import and USD 30.1 million increase in petrol import, USD 99.1 million rise in machinery, equipment, electric appliances, USD 96.3 million increase in transport vehicles, their spare parts and USD 40.3 million in base metals.
Source: National Statistics Office
B.Amarsaikhan

With the decision, excise tax on gasoline with 90 or less octane is now MNT 160 thousand per ton and 90 or more octane is MNT 180 thousand per ton. Gasoline imported through Ereentsav border crossing will be paying MNT 30 thousand, while the diesel fuels will be paying MNT 50 thousand.

Ts.Dashdorj, Minister of Mining and Heavy Industry ordered B.Lkhagva, Head of the Authority for Fair Competition and Consumer Protection, to take actions on sustaining supply, import and retail price of gasoline and diesel fuel, as well as monitoring the implementation.

80 to 90 percent of the total fuel imports pass through Sukhbaatar, Zamiin-Uud and Altanbulag border crossings. When increasing the excise tax, the Government considered it possible for fuel importing entities to not increase retail price.

For instance, the research proved the possibilities for AI-80, AI-92, gasoline and diesel fuel importers to earn 0.5-6 percent net profit without increasing retail price. And can increase them up to 3-9 percent by better management and cutting cost.

The exchange rate of MNT against USD has weakened in the second half of last year, increasing the revenues of importing entities and setting the condition of retail price increase. Therefore, the Government is taking immediate actions and lowered the excise tax to stabilize the prize.

Since the situation has changed now, the Government decided to increase the excise tax without changing the price.
B.Tugsbilig

The decision comes amid suspicion that the major German automaker faked emissions test results.

Daimler officials made the announcement on Tuesday. They predict that the recall will cost about 220 million euros, or over 250 million dollars.

Prosecutors searched Daimler's offices in May over the alleged use of a type of software that keeps emissions of harmful substances low during tests.

Local media outlets reported this month that more than 1 million vehicles were affected.

Daimler Chairman Dieter Zetsche said in a statement that the public debate about diesel engines is creating uncertainty among customers.

He said that Daimler has decided to undertake additional measures to reassure drivers of diesel cars and to boost confidence in diesel technology.

The decision was made after ‘KT Corporation’ of the Republic of Korea made an offer to the Government of Mongolia on selling its 40 percent or 10 million 348 thousand 111 shares at the rate USD 2 million 550 thousand.

‘Mongolia Telecom Company’ operates 6 departments, 15 divisions, 4 branches in Ulaanbaatar and 23 branches in provinces, employing 856 staff. The Government of Mongolia owns 54.67 percent of its shares, and ‘KT Corporation’ owns 40 percent while 5.33 percent is owned by Mongolian and foreign nationals.

The company’s performance covers 25 percent of landline telephone market and 11.3 percent of broadband internet market. 
Kh.Aminaa

Earlier in the day, he met with President Kh.Battulga, Parliament Speaker M.Enkhbold and Prime Minister J.Erdenebat. The Japanese Speaker is visiting Mongolia at the invitation of Speaker M.Enkhbold.

“Freedom and democratic values bring Japan and Mongolia together”, he told the journalists, stressing that the two countries are close partners. “We agreed to develop the bilateral strategic partnership in a wider scope including in political, economic, foreign relations, cultural and sports spheres”.

Speaker Oshima briefed the Mongolian press on the agenda of his meetings with the President, Parliament Speaker and Prime Minister, informing that he will convey the issues the Mongolian side put forward such as the construction of a carbon chemical complex, management of the new airport in Khushig Valley and construction of a railroad.

He then emphasized that it was his responsibility to develop bilateral parliamentary partnership, and wished the best of success to Mongolian athletes to compete at the 2020 Summer Olympics.

When asked about why he specifically chose Mongolia for a visit, he answered, “I have received invitations several times”. He said that he had decided to visit Mongolia in order to further elevate bilateral relationship. “I am accompanied by three young Members of the House of Representatives, and it demonstrates the priority the House of Representatives gives to Japan-Mongolia ties”. 
Kh.Aminaa

Mayor of Berlin Mr. Michael Muller congratulated President Battulga on his election as the President of Mongolia and wished success in his future endeavors.

At the meeting, Mayor of Berlin Mr. Michael Muller shared the experience of East Berlin city administration on reducing its smog and road traffic.

Sabine Kunst, the President of the Humboldt University of Berlin, who is accompanying the Mayor of Berlin, introduced her plan to expand the activities of the Faculty of Mongolian language at the Humboldt University of Berlin and train specialists in tourism and archeology.

Chief of Staff of the President Z.Enkhbold was present at the meeting.